BUSINESS

Korea's auto exports up in July

By Catherine Chung
  • Published : Aug 10, 2017 - 11:30
  • Updated : Aug 10, 2017 - 11:30
South Korea's auto exports continued to grow for six months in a row in July on rising demand from North America and Europe, government data showed Thursday.

The total value of vehicles shipped overseas reached $3.65 billion last month, up 7.5 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

The figure has remained in positive terrain since February when it rebounded to a 5.3-percent rise from a 4.8-percent fall in the previous month.

Total vehicles shipped abroad also climbed 5.1 percent on-year to 228,229 units in July, turning around from a 0.6-percent drop in the previous month.

(Yonhap)

Overseas sales of Korean-made cars in big markets led the uptick last month.

Some $1.5 billion worth of Korean vehicles were sold in North America in July, up 4.1 percent from a year earlier, while shipments to the European Union surged 26.3 percent on-year to $653 million.

Meanwhile, total output by five local automobile companies, including industry leader Hyundai Motor Co., gained 3.1 percent on-year to 371,343 units last month fueled by increase in local sales.

Domestic sales, including imported cars, advanced 8.1 percent on-year to 149,149 units in the one-month period. (Yonhap)