46,193 used car exports in February 2025... Did the spring day go away?

*This content was translated by AI.

South Korea's used car export market shrank sharply in February 2026 compared with the previous year and the previous month's figures amid internal and external variables, according to a preliminary tally by the Ministry of Trade, Industry and Energy and the Korea Customs Service. The total export volume of used cars stood at 46,193, down from 49,096 the previous month. The figure is down significantly from 76,387 units a year earlier.

This is a phenomenon compared to the bizarre surge in used car exports in 2025, and the number is higher than the previous year and the year before. January and February are usually considered the off-season of used car exports. However, caution is first discussed as to whether this figure will rise later. First of all, the Iranian war has blocked several export routes, as well as neighboring buyers who were bypassing exports to Russia, no longer engage in aggressive purchasing activities in the market as in the past.

Looking at export trends by region, it was found that Central Asia and the Middle East led export growth in February again. In particular, Kyrgyzstan has emerged as the biggest strategic location for the export of high-priced used cars as its role as a re-export channel to Russia has become more solid. Libya is also a re-export base in North Africa, absorbing a large amount of low-cost used cars and maintaining its No. 1 position in terms of export volume. In addition, Turkiye, Kazakhstan, and the United Arab Emirates (UAE) were listed as major top exporters, proving that global demand for Korean used cars is diversifying, not limited to specific regions. This phenomenon shows that used cars are playing a role as a "good son item" to defend the reverse growth of overall automobile exports at a time when new car exports have slowed down due to high tariffs imposed by the U.S. and Hyundai Motor Group's conversion to local production.

By type, the movement of used eco-friendly cars has increased significantly. Exports of eco-friendly vehicles, including electric and hybrid vehicles, contributed to reaching a cumulative record high of $4.5 billion in February 2026, and hybrid SUVs and electric vehicle models with short years in the used car market were intensively selected by overseas buyers. In particular, used sales of popular models such as Chevrolet Trax crossover, Hyundai Motor Avante, and Kia Sportage were traded so actively that supply could not keep up with demand. The durability and marketability of Korean cars are highly regarded in overseas markets, and the preference for used cars formed in the aftermath of delays in new car shipments has shifted to the export market.

The domestic used car market has been hit by a boom in exports last year, and parking spots in each used car complex are literally "full of necks" due to aggressive purchases. However, as exports have not been carried out smoothly since the end of last year, used car buyers are sighing deeply. In addition, as used car trading platforms such as Encar Dotcom, K-Car, KB Motor, and Haydiller have jumped into the purchase of used cars, the market price is openly revealed and there is almost no room to hide margins. Therefore, exports of used cars are also becoming increasingly difficult to do business in the past.

There are mixed positives and cautious theories about the future prospects of the used car export sector. Exports are expected to expand slightly from March, when the temporary factor of the decrease in working days disappears, but the situation in the Middle East shows no signs of stabilizing. It is not known how this impact will affect the used car export industry. Nevertheless, the advancement of the export structure centered on eco-friendly vehicles and the development of new markets led by Central Asia are underway. This suggests that the Korean used car export industry is evolving beyond simple used goods sales to qualitative growth in the automobile industry. The performance in February 2026 is expected to be recorded as an important tipping point that confirmed this structural change.

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*This content was translated by AI.