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Auto exports in South Korea jumps

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Staff writer ▼ | May 16, 2014
Automobile exports in South Korea posted a double-digit growth last month due to robust demand from China and the United States, the country's top two trading partners, a government report showed.
Hyundai
HyundaiAutomobile exports in South Korea posted a double-digit growth last month due to robust demand from China and the United States, the country's top two trading partners, a government report showed.


South Korean automakers shipped a total of 299,268 cars in April, up 14 percent from a year earlier, according to the Ministry of Trade, Industry and Energy.

The double-digit growth came amid solid demand from China and the United States, offsetting a negative effect from the South Korean currency's ascent to the U.S. dollar, the ministry said.

In terms of value, car exports hit a fresh record high of 4.83 billion dollars in April on the back of higher prices of locally- made models. Exported car prices averaged 16,123 dollars in April, up from 15,451 dollars a year ago.

Top automaker Hyundai Motor saw its car exports expand 17.7 percent in April from a year earlier, and its affiliate Kia Motors logged the new monthly high of exports last month thanks to demand for Pride and K3 models.

Car production expanded 12.3 percent from a year earlier to 433, 799 units in April, and domestic auto sales grew 11.2 percent to 147,765 vehicles in the same period.


 

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