Ulsan Port’s third quarter automobile exports 14.4%↓… “Effect of summer vacation and production disruption”

(Ulsan = Yonhap News) Reporter Kim Yong-tae = Ulsan Customs announced on the 19th that the number of automobile exports from Ulsan Port in the third quarter of this year decreased by 14.4% compared to last year.

According to Ulsan Customs, automobile exports from Ulsan Port from July to September were 201,071 units, worth $4.85814 billion.

Compared to the same period last year, the number of exports decreased by 14.4% and the amount of exports decreased by 16.3%.

By vehicle type, internal combustion engine vehicles decreased by 20.4% to 114,775 units, hybrid vehicles decreased by 4.2% to 75,968 units, and electric vehicles decreased by 10.6% to 10,297 units.

The proportion of hybrid vehicles in total exports increased from 33.7% in the third quarter of last year to 37.8% this year.

Ulsan Customs explained that the decrease in exports in the third quarter was attributed to a decrease in working days due to the automobile industry's summer vacation in August and production disruptions that occurred during wage negotiations.

Ulsan's automobile exports in August amounted to approximately $990 million, a 49.8% decrease compared to the same month last year.

In September, when wage negotiations were completed and operations were normalized, exports amounted to approximately $2.13 billion, a 0.2% increase compared to the same month last year, and more than double compared to August.

An Ulsan Customs official said, "We will continue to analyze Ulsan Port automobile export trends and changes in the export market by vehicle type to continue providing customs administration support."