Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in South Korea - 2022

Contents:

1. Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in South Korea (FOB) - 2022
2. Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in South Korea (CIF) - 2022
3. Exports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in South Korea
4. Imports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in South Korea

Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in South Korea (FOB) - 2022

In 2022, the average export price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs amounted to $12,896 per unit, remaining relatively unchanged against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs increased by +69.1% against 2016 indices. The pace of growth was the most pronounced in 2018 an increase of 35% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Portugal ($12,899 per unit) and France ($12,898 per unit), while the average price for exports to Ecuador ($12,896 per unit) and South Africa ($12,896 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in South Korea (CIF) - 2022

In 2022, the average import price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs amounted to $12,566 per unit, waning by -2% against the previous year. In general, the import price, however, continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2017 an increase of 68%. The import price peaked at $12,817 per unit in 2021, and then reduced in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($12,750 per unit) and Taiwan (Chinese) ($12,583 per unit), while the price for France ($9,430 per unit) and Japan ($12,085 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in South Korea

In 2022, exports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs from South Korea dropped to 142K units, declining by -9.4% against 2021 figures. In general, exports recorded a abrupt downturn. The growth pace was the most rapid in 2021 when exports increased by 6.6%. The exports peaked at 207K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs fell to $1.8B in 2022. Over the period under review, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2021 with an increase of 16% against the previous year. Over the period under review, the exports of hit record highs at $2.5B in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Top Export Markets for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc from South Korea in 2022:

1. Spain (21.0K units)
2. Italy (17.2K units)
3. United Kingdom (15.7K units)
4. France (12.0K units)
5. Germany (10.4K units)
6. Poland (4.6K units)
7. Belgium (4.4K units)
8. Netherlands (3.9K units)
9. Portugal (3.7K units)
10. South Africa (2.9K units)
11. Ecuador (2.6K units)
12. Turkey (2.5K units)
13. Greece (2.5K units)

Imports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in South Korea

In 2022, the amount of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs imported into South Korea soared to 856 units, picking up by 53% against the year before. Overall, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +12.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs skyrocketed to $11M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +13.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc to South Korea in 2022:

1. Taiwan (Chinese) (340.0 units)
2. China (290.0 units)
3. Mexico (104.0 units)
4. Brazil (39.0 units)
5. United States (21.0 units)
6. India (18.0 units)
7. Germany (13.0 units)
8. Canada (10.0 units)
9. Japan (4.0 units)
10. France (1.0 units)

Source: IndexBox Market Intelligence Platform