In December 2022, Korea's used car exports ended successfully despite cooling in the domestic market due to issues like interest rate hikes and financing restrictions. Exports to the Middle East, Russia, and Central Asia were strong, compensating for sluggish exports to Central and South America. The previous year, exports had decreased due to high shipping rates and a shipwreck, but the December 2022 exports were not affected by such issues.

Last December, the Korean used car export market saw a total of 37,614 units being shipped out. Although this figure was 6.6% lower than the 40,251 units exported in November, it was a 29.3% increase compared to the 29,101 units exported in the same period of the previous year. This is largely due to the low export figures seen in December 2021, which was the lowest point of the year.

The total value of exports in December was $322 million, a decrease of 10.1% compared to November's $359 million. However, it was a significant increase of 136% compared to the $137 million in December of the previous year. This growth in value is attributed to the increase in both the number of units exported and the average export unit price per unit, which stood at around $8,600. This figure is slightly lower than the recent average but still more than twice as high as last year's average of $4,200. This is due to the increase in exports of high-priced used cars to Russia and neighboring countries.

For the entire year of 2022, the number of used car exports was 404,653 units, a decrease of 13.4% compared to the 467,038 units exported in 2021. Despite this, the value of exports increased by 50% to reach $2.958 billion, up from $1.973 billion in 2021. This upward trend in value is a result of the upward trend in terms of the year, quality, and export unit price of the exported vehicles.

In conclusion, despite the decrease in the number of units exported, the Korean used car export market saw a significant increase in value, largely due to the increase in both the number of units exported and the average export unit price per unit. This is a promising sign for the future of the industry and its continued growth.

As the year has come to a close, it is time to reflect on the performance of the monthly exports of all vehicle classes in 2022. On average, the exports of all vehicle classes decreased by 13.4% compared to 2021. The largest decrease was seen in the cargo truck group, with a decline of 30.2%. Compact cars and small passenger cars also showed significant decreases of 25% and 48% respectively. Additionally, the decrease in diesel truck models was substantial, ranging from 30% to 70%.

However, the electric vehicle used car export market of Korea experienced significant growth. Gasoline HEV vehicles increased by 392% and pure EV vehicles by 146%. Other mid-size passenger cars and mid-size RVs over 2000cc also showed significant increases compared to the average. This trend is indicative of a shift towards more eco-friendly and sustainable modes of transportation.

The export market for used cars saw varying trends in different regions in the past year. In Libya, the number of exports rebounded from a low point in June to reach 5,000 units in December. This increase can be attributed to a rise in the number of Libyan buyers and a slight increase in prices. In Kyrgyzstan, the number of exports dropped in December compared to November but remained high compared to previous periods. This can be attributed to a change in model year regulations, which led to a ban on exports of low-priced vehicles and an increase in exports of high-priced vehicles.

In Tajikistan, the revival of the related industries and improvement of purchasing power resulted in a significant increase in exports. In Azerbaijan and Georgia, the demand for cars rose due to an influx of young Russians fleeing conscription. The UAE continued to serve as an intermediate route for exports to Saudi Arabia, and exports continued to increase. Saudi Arabia mainly exports diesel fuel vehicles within 5 years of registration, and many other imported cars are shipped for local sales in the UAE.

Exports to Madagascar saw a rise in low-priced used cars, with the main models being diesel RVs. Albania also saw a significant increase in exports since September, with medium and semi-large cars being the main models.

Overall, the export market for used cars saw dynamic changes in different regions, with various factors contributing to the rise or decline in exports. Further analysis and monitoring of the market trends is necessary to make informed business decisions.

In December 2022, sales of new cars in Russia saw a significant increase, reaching 64,072 units compared to the monthly average of 30,000 to 40,000 units since April of the previous year. This increase is attributed to the rise in sales of imported new cars from China and a slight increase in the sales of Russian-made "Lada" cars, which have limited semiconductor options.

However, despite the increase in December, the overall annual sales of new cars in Russia decreased by 59% in 2022 compared to the previous year. This decrease has led to a significant rise in the import of used cars from Japan and Korea, and this trend is expected to continue in the near future.

The container freight industry has been impacted by the continuous decline in freight rates. The SCFI, which was at 5,000 in January 2022, has plummeted to 1,031 as of January 13, 2023, representing a decrease of over 80%. This trend has resulted in a reduced cost of shipping containers, making it a favorable environment for the export of low-priced used vehicles to countries such as Libya, Yemen, and Oman. The decrease in container freight rates has brought about a cost reduction from 2 million won to 400,000 won per container, indicating the substantial impact of the decline on the industry. The quality of maritime transport may not be at its best, but the current conditions are still expected to boost exports in the near future.

In 2012, Korea saw an increase in used car exports, with a total of around 370,000 units due to high demand in Russia. However, this number has fluctuated over the years, with a peak of 470,000 units in 2019. The global pandemic of COVID-19 resulted in a significant decrease in exports in 2020, but the industry was able to recover to its previous numbers in 2021. Despite a slight decrease in the number of exports to 400,000 units in 2022, the total value of exports increased due to a rise in the export of high-priced used vehicles to Russia and neighboring countries, such as Jordan and Saudi Arabia.

In 2022, Korea exported used cars to 165 countries, a decrease of 5 countries compared to the highest record of 170 countries in 2019. However, the number of countries exporting over 10,000 units per year increased to 12 countries, up 2 from 2019. The number of countries exporting over 5,000 units was 19, the highest ever recorded.

The top 12 countries, which accounted for 74.9% of total exports, exported more than 10,000 units each. The top 19 countries, accounting for 88.1% of total exports, exported over 5,000 units. The top 36 countries, accounting for 96.9% of total exports, exported over 1,000 units. Meanwhile, 129 countries accounted for only 3.1% of total exports.

Small exports of hundreds or dozens of units per year are mainly conducted through online export brokerage platforms such as Auto Wini, IM Motor Group, and Be Forward, primarily to Central American Caribbean countries and small South Pacific countries. These countries find it difficult to find buyers through local business trips or local tours, so it is expected that non-face-to-face transactions through online brokerage will continue in the future.