Latest news with #vehicleexports
Yahoo
22-05-2025
- Automotive
- Yahoo
South Korean exports to US plunge 20% in April
The value of built-up vehicles exported from South Korea fell by 4% year-on-year to US$ 6.53 billion in April 2025, according to data released by the Ministry of Trade, Industry and Energy, due mainly to a sharp fall in shipments to the US after the Trump administration hiked import duties to 25% in late March. Exports to the US plunged by almost 20% to US$ 2.89 billion in April, which was offset in part by higher shipments to other markets in Asia, the European Union (EU), the Middle East and Latin America. An official at the Ministry confirmed that exports to the US declined sharply last month due mainly to the higher US import tariffs, and also as a result of the ramp up of production at Hyundai Motor Group's new assembly plant in Savannah, in the US state of Georgia. By volume, total exports fell by 2.2% to 385,621 vehicles last month, with Hyundai Motor Group encompassing the Hyundai, Genesis and Kia brands, and General Motors Korea, accounting for most of the shipments. In the first four months of 2025 the value of new vehicles exported from South Korea fell by 2% year-on-year to US$ 23.8 billion. "South Korean exports to US plunge 20% in April" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News24
18-05-2025
- Automotive
- News24
Ramaphosa can still save AGOA, say SA automakers
Automotive lobby group Naamsa says the US remains an attractive market for vehicle exports. Be among those who shape the future with knowledge. Uncover exclusive stories that captivate your mind and heart with our FREE 14-day subscription trial. Dive into a world of inspiration, learning, and empowerment. You can only trial once. Start your FREE trial now
