SEOUL: South Korea’s passenger car export hit a record quarterly high in the second quarter on solid demand for eco-friendly vehicles, reported Xinhua quoting customs office data Monday.
According to Korea Customs Service, passenger car shipment jumped 46.4 per cent from a year earlier to reach a new high of US$16.62 billion in the April-June quarter.
It continued to grow for the fifth consecutive quarter since the second quarter of last year on the back of more robust demand for environmentally-friendly vehicles.
Outbound shipment of eco-friendly passenger vehicles soared 70.7 per cent over the year to hit a fresh high of US$6.31 billion in the second quarter.
Import for foreign passenger cars advanced 32.9 per cent to reach a new quarterly high of US$4.58 billion in the cited quarter.
The number of exported sedans spiked 33.3 per cent from a year earlier to 730,000 in the second quarter, while the number of imported sedans gained 11.9 per cent to 90,000.
The average export price for passenger vehicles expanded 9.8 per cent to US$22,841per unit in the cited quarter, while the average import price for foreign sedans increased 18.8 per cent to US$51,171. – BERNAMA-XINHUA
