Korea Exports Record Number of Used Cars

      December 12, 2012 13:54

      The number of used cars exported from Korea has reached a new record. The Korea Used Car Export Association on Tuesday said a total of 322,623 second-hand cars cleared customs from January to October this year, exceeding last year's total of 293,208 and a 38-percent growth on-year.

      Sedans made up the most or 74 percent of exported used cars. A third of them were mid-sized gasoline vehicles with 1.5 to 2.0 liter engines, followed by compact cars with an engine capacity of 1.0 to 1.5 liter.

      Trucks accounted for 19 percent, vans 6 percent, and tractors 0.3 percent.

      Korea's used car export market was worth about W1.8 trillion last year, the world's fourth largest after the EU, Japan, and the U.S. The industry believes that the durability of Korean cars is being recognized in emerging economies in the Middle East and Southeast Asia, and this is helping boost exports. Their relatively low price at an average of W5.8 million is another appeal. 

      Jordan was the biggest buyer of Korean second hand cars last year with 92,450.

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