Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in South Korea - 2022

Contents:

1. Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in South Korea (FOB) - 2022
2. Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in South Korea (CIF) - 2022
3. Exports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in South Korea
4. Imports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in South Korea

Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in South Korea (FOB) - 2022

The average export price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs stood at $74,640 per unit in 2022, increasing by 6.7% against the previous year. In general, the export price enjoyed a buoyant expansion. The growth pace was the most rapid in 2014 an increase of 45% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($74,681 per unit) and Iraq ($74,670 per unit), while the average price for exports to Kuwait ($74,593 per unit) and Canada ($74,642 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 Kazakhstan (+10.9%), 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 Exceeding 3000cc in South Korea (CIF) - 2022

The average import price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs stood at $60,011 per unit in 2022, with an increase of 2.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.8%. The most prominent rate of growth was recorded in 2015 when the average import price increased by 17%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Slovakia ($60,024 per unit) and Japan ($60,020 per unit), while the price for Austria ($60,006 per unit) and the UK ($60,006 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+71.5%), 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 Exceeding 3000cc in South Korea

In 2022, after three years of growth, there was significant decline in overseas shipments of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs, when their volume decreased by -8.2% to 81K units. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +12.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 26% against the previous year. As a result, the exports attained the peak of 88K units, and then dropped in the following year.

In value terms, exports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs shrank modestly to $6B in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +16.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.7% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 49%. As a result, the exports reached the peak of $6.1B, and then contracted in the following year.

Top Export Markets for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc from South Korea in 2022:

1. United States (59.9K units)
2. Canada (5.3K units)
3. Saudi Arabia (3.6K units)
4. Australia (2.6K units)
5. Kazakhstan (1.4K units)
6. Iraq (1.1K units)

Imports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in South Korea

Imports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs into South Korea stood at 23K units in 2022, increasing by 3.6% compared with 2021 figures. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports of attained the maximum at 23K units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs amounted to $1.4B in 2022. The total import value increased at an average annual rate of +2.0% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 12%. Over the period under review, imports of attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Top Suppliers of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc to South Korea in 2022:

1. United States (6.8K units)
2. United Kingdom (5.4K units)
3. Germany (3.6K units)
4. Austria (3.4K units)
5. Italy (2.5K units)
6. Slovakia (0.7K units)

Source: IndexBox Market Intelligence Platform