Korea’s automobile exports dropped 10.8 percent in the first quarter from a year earlier due to weak demand from emerging countries, according to data and market analysts Wednesday.

The Korea Automobile Manufacturers’ Association said in its report that Korean automakers sold 654,494 units abroad from January to March. They sold 733,759 units during the same period last year.

Industry watchers attributed the decline to the slowing Chinese economy, along with falling demand from other emerging markets.

However, they expected that the automakers’ performance in the second quarter would improve once the recently released models are shipped.

Among the cars exported in the first three months, commercial vehicles accounted for 28,350 units, a 27.1 percent drop from the previous year. Exports of automobile parts also dropped 4.1 percent during the same period.

Meanwhile, domestic sales showed a 6.9 percent increase in the first quarter, mainly thanks to the government’s extension of an excise tax cut program for new car buyers.

By Hong Sung-pyo (hong1@heraldcorp.com)