South Korea's February Vehicle Export Value Declined 20.8% Year-over-Year

MaticHoleFiller

2026-03-21 16:39:09

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South Korea’s Ministry of Trade, Industry, and Resources announced on Wednesday that the country’s automobile exports in February decreased by 20.8% year-on-year to $4.8 billion.

The ministry stated that the decline in exports in February was due to fewer working days caused by the Lunar New Year holiday.

Among them, hybrid vehicle exports increased by 23.5%, reaching $1.21 billion. Exports of pure electric vehicles and hydrogen fuel cell vehicles declined by 8.2%, totaling $670 million.

By destination, exports to the United States fell by 29.4% year-on-year, and exports to the European Union decreased by 20%. In contrast, exports to Latin America grew by 21.7% year-on-year.

Domestically, South Korea sold a total of 123,275 vehicles last month, down 7.2% year-on-year.

The Ministry of Trade, Industry, and Resources stated that in the first two months of this year, the total exports of environmentally friendly vehicles, including electric vehicles, hydrogen fuel cell vehicles, and hybrid vehicles, reached a record $4.5 billion.

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