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[KH Explains] How should Korea adjust its trade defenses against Chinese EVs?
![[KH Explains] How should Korea adjust its trade defenses against Chinese EVs?](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/15/20240415050562_0.jpg&u=20240415144419)
![[KH Explains] How should Korea adjust its trade defenses against Chinese EVs?](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/15/20240415050562_0.jpg&u=20240415144419)
Ssangyong Motor Co. said Thursday its global sales continued to grow from a year earlier last month on a sharp increase in domestic sales that more than offset a sharp drop in exports.
The South Korean unit of Indian carmaker Mahindra & Mahindra Ltd. said its overall sales came to 10,816 cars in February, up 2.3 percent from the same month last year.
Domestic sales spiked 16.1 percent on-year to 8,106 cars, while outbound shipments plunged 24.6 percent to 2,710 vehicles.
The automaker attributed the sharp drop in exports to the "economic recession all over the world, including emerging markets."
"However, Ssangyong expects steady sales growth in the overseas market as well since the company is accelerating its efforts to expand into new markets," it said in a press release.
In the first two months of the year, the company's global sales gained 2.8 percent on-year to 21,236 cars.
Domestic sales jumped 11.6 percent on-year to 15,121 cars over the cited period, while exports dropped 13.9 percent to 6,115 vehicles. (Yonhap)
