Trends in Used Car Exports from South Korea to Russia and Related Contexts in 2022
In 2022, South Korea saw a remarkable surge in the export of used passenger vehicles to the Russian market. Data reported by the Chunan Ilbo, drawing on figures from the Korea International Trade Association, show that total second-hand car exports to Russia rose by more than twelvefold from the previous year. This substantial increase underscores the shifting dynamics in bilateral auto trade and the growing interest of Russian buyers in older, durable vehicles sourced from Korea.
The activity to Russia was characterized by a dramatic expansion in the volume of deliveries. Used car shipments to Russia climbed to about 19.6 thousand units, up from roughly 2.36 thousand the year before. The corresponding value of these shipments also soared, jumping from approximately 45.34 million dollars to around 572.76 million dollars. In the full year, Russia accounted for about 4.9 percent of all used car shipments, totaling around 404 thousand vehicles exported globally. The rise in both volume and value marks a notable shift in export patterns and reflects broader market demand in the Russian automotive sector during the period.
On average, the price of a used car exported from South Korea to Russia in 2022 stood at about 29.2 thousand dollars. This figure was roughly four times higher than the national average price for used cars in Korea, which hovered near 7.3 thousand dollars. By comparison, the 2021 average price for a Korean export to Russia was about 19.2 thousand dollars, indicating a notable price growth year over year in the Russian market for imported used vehicles.
Industry observers also noted shifting patterns in regional exchange. Earlier reports indicated that used car deliveries from Japan to Russia rose by nearly 32 percent in 2022 compared with the previous year. In total, more than 213.5 thousand Japanese-origin vehicles were imported into Russia last year, with popular models including Toyota Land Cruiser SUVs remaining highly sought after at the time. This diversification highlights a broader trend of Russia importing a mix of used vehicles from East Asia to meet domestic demand.
Beyond vehicle trade, reports suggested developments in the underlying technology ecosystem that could influence future car manufacturing. It has been recognized that Russian microelectronics design centers may soon begin to develop electronic chips destined for automotive applications. If realized, these efforts could contribute to a domestic capacity for embedded automotive components and potentially alter the supply chain landscape for Russian automotive systems in the years ahead, signaling a broader push toward localized electronics production within the country.