Last year, 2.76 million cars were exported to 196 countries...the highest number in eight years.

Last year, Korean finished car manufacturers exported 2.76 million vehicles to 196 countries, marking the highest volume of automobile exports in eight years.
According to the Korea Automobile Mobility Industry Association (KAMA), on the 28th, Hyundai Motor (005380) and Kia
Six domestic finished car manufacturers: Automotive (000270), General Motors (GM) Korea Office, KG Mobility (003620), Renault Korea, and Tata Daewoo, made 196 cars in the past year.
A total of 2,763,499 cars were exported to the country. This is a 20.1% increase over the 2,300,333 units exported to 197 countries in 2022, which KAMA predicted at the beginning of last year.
This is 410,000 more units than the previous export volume (2.35 million units). This is the first time in eight years since 2015 (2,974,114 units) that domestic vehicle manufacturers exported more than 2.7 million units in a year.
By continent/region, North America, which includes the United States, had the largest export volume at 1,549,164 units. This was followed by the European Union (EU) with 435,631 units and the Middle East2.
19,530 units were sold, followed by Oceania with 187,188 units, Europe and other regions with 164,150 units, and Central and South America with 123,677 units. The continents where export volume did not reach 50,000 units were Asia, excluding the Middle East.
The two locations were Africa (43,059 units) and Africa (41,170 units). By single country, the United States recorded the highest number with 1,305,991 units. Next is Canada (218,721 units)
), followed by Australia (169,205 units), Germany (92,692 units), the UK (87,064 units), and France (71,665 units). 12,998 units were exported to Taiwan last year
However, this is a 75.2% increase compared to the previous year (7,420 units). Meanwhile, we were unable to sell 3,000 units each to China and Japan, Asia's major trading partners, last year.
It was. It exported 2,571 units to China and 1,506 units to Japan. The number of cars exported to Russia, which is at war with Ukraine, was 808, a sharp drop of 94.3% from the previous year. ukraine
The company exported 3,200 units to China, an increase of 41.7% from the previous year. Meanwhile, KAMA recently published its ``2023 Automotive Industry Assessment and 2024 Outlook'' report, which shows that major markets such as the United States and Europe
We predicted that 2.75 million units would be sold this year due to the normalization of demand and a recovery in consumer sentiment in developed markets due to lower interest rates in the second half of the year.