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Title S. Korea's auto exports up 12.6 pct in January
Write admin Date 2019-02-20 Hit 81

SEOUL, Feb. 19 -- South Korea's automobile exports moved up 12.6 percent on-year in January on the back of strong demand for SUVs and environment friendly cars in North America and Europe, the industry ministry said Tuesday.



According to the Ministry of Trade, Industry and Energy, automakers here shipped 213,618 cars overseas last month, with the value estimated at US$3.67 billion. The North American market accounted for $1.5 billion, up 19.6 percent on-year, followed by the European Union with $820 million, up 20.4 percent.



The Asian market accounted for $207 million in January, rising 45.8 percent on-year, with the shipment to the African and Oceanian markets also rising 23.2 percent and 8.9 percent, respectively.



By company, South Korea's top carmaker, Hyundai Motor Co., saw its export units rise a solid 14.8 percent, with Kia Motors Corp. posting a 32.5 percent surge over the cited period.



GM Korea Co. and SsangYong Motor Co., on the other hand, saw their vehicle exports fall 2.3 percent and 13 percent, respectively, on-year in the month. Numbers for Renault Samsung Motors Corp., nose-dived 44.8 percent on the sluggish sales of the Nissan Rogue SUV.



South Korea's production of new cars in the month moved up 9.8 percent on-year to reach 354,305 units, as carmakers expanded their production ahead of the Lunar New Year holiday, which fell in February.



In terms of domestic sales, the figure edged up 1.5 percent on-year to reach 136,157 units on the back of expanded sales of SUVs. Domestically produced models accounted for 117,456 units, up 4.7 percent over the period.



Local sales of imported cars, on the other hand, fell 14.9 percent to reach 18,701 units.
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