April Auto Exports and Production Decline... Eco-Friendly Vehicles Surge Ahead

Automobile exports drop 5.5% to USD 6.17 billion; production also falls by 6.1%

Eco-friendly vehicle sales up 31% domestically and 22.8% in exports; electric vehicle sales surge

Yonhap News Agency

Both automobile exports and production declined in April. This was due to reduced exports in major markets excluding the United States, compounded by some parts supply chain disruptions and pent-up demand as customers awaited new model launches. However, sales of eco-friendly vehicles, particularly electric and hybrid cars, continued to show double-digit growth in both domestic and export markets.

According to the "April 2026 Automotive Industry Trends" announced by the Ministry of Trade, Industry and Energy on May 20, last month’s automobile export value reached $6.17 billion, down 5.5% from the same period last year. Export volume was also down by 0.8% to 244,990 units. Domestic sales increased by 0.7% to 151,693 units, but production fell by 6.1% to 361,926 units.

By region, exports to North America rose by 2.4%, Central and South America by 23.7%, and Oceania by 20.1%. In contrast, exports to the EU fell by 13.1%, Asia by 31.7%, and the Middle East by 38.7%. In particular, exports to the United States amounted to $2.737 billion, a decrease of 5.3%.

By manufacturer, Hyundai Motor produced 144,399 units, a 16.2% decrease from a year earlier, while Renault Korea also saw its production drop by 32.3%. Conversely, GM Korea increased production by 15.4%, and KG Mobility by 8.6%. The Ministry of Trade, Industry and Energy attributed these changes to some parts supply chain issues and pent-up demand as consumers await the launch of new or facelifted models of major vehicle types. The ministry expects supply chain disruptions to normalize from June.

Eco-friendly vehicles continued their growth trend. In April, export value of eco-friendly vehicles climbed 13.5% to $2.52 billion, and export volume rose by 22.8% to 90,508 units. Notably, hybrid vehicle exports surged by 24.5%, while electric vehicle exports jumped by 42.6%.

The domestic market also saw a significant increase in the share of eco-friendly vehicles. Domestic sales of eco-friendly vehicles in April reached 91,250 units, up 31.0% year-on-year, accounting for about 60% of total domestic automobile sales. Domestic sales of electric vehicles soared by 139.7% to 38,927 units.

In terms of domestic sales rankings by model, the Sorento ranked first with 12,078 units sold, followed by the Morning, Grandeur, Sonata, and Avante. For export models, the Trax led with 31,273 units exported, followed by the Avante, Sportage, and Kona.

In the imported car market, Tesla’s sales surged. Tesla sold 13,190 units last month, achieving an 8.7% share of the total domestic market. BYD also sold 2,023 units, marking a 272.6% increase compared to the same period last year.

This content was produced with the assistance of AI translation services.