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S Korea’s automotive export hits record high in February

SEOUL (XINHUA) – South Korea’s automotive export hit a record high in February thanks to robust demand for eco-friendly vehicles, government data showed yesterday.

Car shipment soared 47.1 per cent from a year earlier to USD5.6 billion in February, according to the Ministry of Trade, Industry and Energy.

The latest figure marks the country’s highest monthly auto shipment, which has continued to grow for the seventh consecutive month since August last year.

The number of exported vehicles was 222,934 in February, up 34.8 per cent from a year earlier. Export for eco-friendly cars jumped 83.4 per cent to USD2.02 billion during the cited period, while the number of the exported units surged 61.6 per cent to a record high of 63,000.

The number of vehicles manufactured in the country’s factories increased 30.2 per cent over the year to 343,575 in February on the back of the eased supply disruption of semiconductors used to make cars.

The number of cars sold in South Korea, including locally-made and imported vehicles, was 147,031 in February, up 19.6 per cent from a year earlier.