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S. Korea's auto exports decline 8 pct in Nov.

All News 11:00 December 12, 2017

SEOUL, Dec. 12 (Yonhap) -- South Korea's exports of automobiles fell last month compared to a year earlier due to sluggish sales of compact and midsize vehicles, government data showed Tuesday.

The number of vehicles sold abroad stood at 237,083 units in November, down 8 percent compared with a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy.

However, the total value of vehicles shipped overseas rose 3.4 percent on-year to US$4.07 billion, as large sedans and sports utility vehicles (SUV) boosted the overall sales price.

A total of 382,034 cars were produced last month, an 8 percent fall from a year earlier, due to a high base effect and shorter working days caused by Hyundai Motor's union staging a strike in late November.

Auto sales in North America and Asia dropped 11.2 percent and 28.5 percent, respectively, while sales gained 3.5 percent in Europe and 11.1 percent in Latin America compared with a year ago.

Domestic sales, including imported cars, edged down 1.2 percent on-year to 166,330 units due to tepid performance of compact and midsize cars.

Hyundai Motor Co. saw its sales advance 12.8 percent on-year in November, led by large sedans and new models, while Kia Motors Corp., GM Korea Co, SsangYong Co. and Renault Samsung Motors all grappled with sluggish sales caused by tougher competition in the local and foreign markets.


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