Surge in Hybrid Exports Drives Korea's March Auto Exports to $6.37 Billion

Boosted by rising demand for hybrid vehicles, South Korea's auto exports reached $6.37 billion in March, up 2.2% year-on-year, marking the second-highest March export figure on record. Hybrid vehicle exports surged 79% year-on-year, becoming the primary driver of overall auto export growth. By region, auto exports to the European Union rose 33% year-on-year, while exports to Asia-Pacific and the Middle East declined by 38.4% and 40.8%, respectively. In the first quarter of this year, South Korea's total auto exports amounted to $17.2 billion, down slightly by 0.2% year-on-year.