After headway in June, car exports feel headwind in July

Korea’s car exports dropped only a month after they showed signs of recovery. According to data released by the Ministry of Trade, Industry and Energy on Sunday, Korea exported a total of 258,781 units in July, 2 percent lower than a year earlier. The volume of car exports has consistently decreased this year, but showed a sign of recovery in June after 288,835 units were shipped, a 11.8 percent rise from a year ago.

The ministry said the weak yen and euro, as well as slumping economies in newly industrialized nations, including Russia and Latin America, impacted Korea’s sales. The sales for Hyundai Motor, GM and Renault Samsung improved in July from a year ago, but the figure for Kia Motors and Ssangyong Motor dropped. The best-selling Korean car was Hyundai Motor’s small-size sedan Avante, with 21,461 units sold, followed by GM Korea’s small SUV Trax, with 20,768 units sold. The company’s exports in July increased by 29.1 percent from a year earlier, while Renault Samsung’s exports increased by 70.9 percent during the same time.