Korea Used Car Exports Jump 32.7 Pct

By Kim Ki-tae of the Korea Times reported that the export of secondhand cars surged by 32.7 percent in the first quarter of the year.

According to industry sources yesterday, the country shipped out 28,054 vehicles for the three months, up from 21,141 for the corresponding period last year.

Out of the total, the export of vehicles with a passenger capacity greater than seven, inched up by 2.1 percent to 6,780 units, while exports of private vehicles and heavy vehicles jumped by 39.9 percent and 60.8 percent each to 13,745 units and 7,529 units respectively.

In 1992 the exports remained at 3,177 units, but kept increasing until a brief dip in 1996, when the outbound shipment was 9,109.

Since then the figures rebounded strongly to reach 35,732 in 1997, 81,512 in 1999 and 110,177 last year, exceeding the 100,000 level for the first time.

``The country has shipped the used vehicles mainly to Russia, South America and Southeast Asia. But we don't have exact data on the exports, as most of secondhand unit exporters are mostly small businesses, unlike the new car exporters,'' said Jang Hye-jeong, an official at the Korean Used Car Dealers Association.

The used car trade within the country also inched upward by 5.5 percent to 463,815 units for the first quarter.

By region, Kyonggi Province saw 36,868 secondhand cars bought and sold, the biggest volume in the country, and Seoul followed with 34,220 transactions. South Kyongsang Province, North Kyongsang Province and Pusan registered sales of 15,017, 14,897 and 14,141 respectively.

kt-kim@koreatimes.co.kr