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Auto exports rise 11.6% as sales to Europe soar

May 17,2017
Korea’s auto exports gained ground for the third consecutive month in April on increased global demand, government data showed Tuesday.

The total value of vehicles shipped overseas reached $3.89 billion last month, up 11.6 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

The number of exported vehicles was up 7 percent year on year to 242,416 units in April, a swing from a 4.7 percent drop the month before.

The ministry said a recovery in overseas demand led the uptick last month with $674 million in Korea-made cars sold in the European Union, up 60.3 percent from a year before.

Shipments to the Middle East rose 9 percent to $524 million and those to Central and South America gained 14.6 percent to $287 million. But exports to North America slipped 3.3 percent year on year to $1.64 billion last month, while sales in Asia fell 4.6 percent to $200 million.

Meanwhile, total output by five local automobile companies rose 3.8 percent on-year to 382,566 units last month on brisk exports.

However, domestic sales fell 3.1 percent year on year to 153,578 units amid weak private consumption. YONHAP





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