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South Korea's booming used car exports cushion impact of US tariffs
Used car exports surged 72% to $3.9 billion in the first half of 2025, driven by demand in Russia and the Middle East amid U.S. tariffs on new vehicles.
- This year, from Incheon, tens of thousands of vehicles are being packed for export as booming used car shipments help mitigate the impact of U.S. tariffs announced by President Donald Trump.
- A weaker won and strong overseas demand pushed exporters toward second‑hand markets, with South Korea selling more used cars to the Middle East than new vehicles and a 40% rise in sales to Russia.
- Trade figures reveal sharp jumps in both volumes and export values, with used car exports rising 25% to $3.9 billion and monthly shipments up 35% to $711.5 million, the Korea Used Car Distribution Research Institute reported.
- Ruling Democratic Party lawmaker Heo Jong-sik proposed a bill to register exporters and develop export complexes, urging government support as poor Incheon facilities risk capping growth.
- Despite Syria banning used car imports in July, exports are on track for a record year as global car exports have risen for three straight months and August hit a $5.5 billion monthly record.
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South Korea’s Used Car Export Boom: Resilience or Risk?
South Korea’s auto industry, long a cornerstone of its export economy, is undergoing a structural shift. As U.S. tariffs choke off new car exports, booming second-hand vehicle sales are cushioning the blow. This unexpected surge, driven by geopolitical realignments and consumer demand in Russia, Central Asia, and the Middle East, reflects both the adaptability of […] The post South Korea’s Used Car Export Boom: Resilience or Risk? appeared first…
South Korea's booming used car exports cushion impact of US tariffs
From the muddy grounds of a former amusement park on South Korea's coast, tens of thousands of vehicles are being packed for shipment overseas as booming used car exports help to mitigate the impact of U.S. tariffs on new car sales.
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Coverage Details
Total News Sources8
Leaning Left1Leaning Right1Center5Last UpdatedBias Distribution72% Center
Bias Distribution
- 72% of the sources are Center
72% Center
14%
C 72%
14%
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