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The Ministry of Trade, Industry and Resources released its July Automobile Industry Trends report on August 13, which placed auto exports at $6.24 billion for the month, exceeding the previous July peak of $5.9 billion from 2023. Eco-friendly vehicle shipments surged 25.5 percent to $2.59 billion within that total, accounting for 41.5 percent of all auto exports and acting as the chief contributor to the headline gain. The ministry’s figures also noted that hybrid and electric models continued to find strong demand in major overseas markets despite global economic headwinds.
Domestic vehicle sales advanced 0.5 percent to 139,000 units in July, the report showed, while electric vehicle sales within that category jumped 47.5 percent. Production across the industry rose 11.3 percent to 352,000 units, helped by extra working days at several plants compared with the prior year. The ministry’s data further indicated that these gains occurred even as some manufacturers adjusted summer vacation schedules, which affected the year-on-year baseline.
Hyundai Motor Company registered declines in both production and domestic sales during the month, according to the trade ministry report, which attributed the drops to union strikes at the automaker. The ministry placed overall industry output for the first seven months of the year in line with earlier forecasts that targeted sustained growth in both shipments and local registrations. Separate ministry announcements on overall trade showed July merchandise exports reached the second-highest monthly level on record, with automobiles remaining a key driver alongside semiconductors.
A public-private roundtable convened by the ministry brought together government officials and industry leaders to discuss strategies for the sector, with participants stressing the importance of maintaining an annual production base above 4 million units. The gathering highlighted the need to accelerate support for the transition to future mobility technologies, including advanced electric and autonomous systems. The ministry’s summary of the discussion noted that such measures would help secure long-term competitiveness amid evolving global supply chains and regulatory standards.
The July performance builds on momentum from prior months, as the ministry had reported June auto exports at a record $6.71 billion, also propelled by a 31.3 percent increase in eco-friendly shipments to $2.9 billion that month. Industry data compiled by the ministry shows eco-friendly vehicles now routinely represent more than 40 percent of monthly export value, up significantly from shares seen before 2023. These trends align with broader South Korean export growth that has outpaced many peers in the first half of 2026, according to ministry tallies.
