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Spain and US Expected to Outdo South Korea in Car Export
Falling Behind in Exports
Spain and US Expected to Outdo South Korea in Car Export
  • By Jung Min-hee
  • December 6, 2017, 02:15
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Both Spain and the U.S. are likely to overtake South Korea in car exports before the end of this year
Both Spain and the U.S. are likely to overtake South Korea in car exports before the end of this year

 

It has been found that Mexico exported a total of 2,575,361 cars from January to October this year, beating South Korea by a margin of 458,722.

Last year, Mexico exported 2,768,268 cars to beat South Korea by approximately 140,000 and become the third-largest car exporter in the world behind Germany and Japan, which exported 4,651,053 and 4,634,033 cars, respectively. This year, South Korea’s monthly average automobile export volume is 210,000 and it is unlikely for South Korea to overtake Mexico during the remaining two months.

South Korea was the third-largest car exporter in the world for 11 years in a row until 2015. However, it fell to the fifth place last year with Mexico coming in third and the United States coming in fourth by exporting 2,653,688 vehicles. South Korea’s automobile export volume amounted to 3,170,634 but dropped for four years in a row until last year.

Spain, which took the sixth place last year, exported 2,035,964 cars from January to October this year, nipping at the heels of South Korea with a difference of only 80,675. The United States recorded an export volume of 1,776,191 for the first three quarters of this year, when that of South Korea was 1,942,628. Both Spain and the U.S. are likely to overtake South Korea before the end of this year in that employers and employees have yet to reach an agreement on wages, working conditions, and so on in each of Hyundai Motor Company, Kia Motors, and GM Korea.