South Korea's automotive exports fall in April 2026

Seoul (ANTARA) – Data from South Korea’s Ministry of Trade, Industry and Resources on Wednesday, 20 May, showed that the country’s automotive exports in April 2026 declined, amid ongoing tensions in the Middle East. Vehicle shipments fell 5.5% year on year to US$6.17 billion in April, after a single-digit rise in the previous month. Automotive exports to the United States fell 5.3% to US$2.74 billion, while shipments to the European Union slumped 13.1% to US$828 million. Exports to Asia and the Middle East posted double-digit declines due to tensions in the Middle East, which pushed up oil prices. Demand for environmentally friendly vehicles remained strong, with exports up 13.5% to US$2.52 billion in April on a year-on-year basis. The environmentally friendly vehicles include electric vehicles, fuel cell electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles (PHEV). The number of vehicles exported reached 244,990 units in April, down 0.8% on the year. Shipments of automotive parts also contracted 6.0% to US$1.90 billion. The number of vehicles produced at local plants fell 6.1% to 361,926 units in the past month. The number of cars sold domestically, including locally produced and imported vehicles, reached 151,693 in April, up 0.7% on the year.