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Auto output grows on sound exports, domestic sales in April

Autos 11:00 May 16, 2019

SEOUL, May 16 (Yonhap) -- South Korea's overall auto output increased from a year earlier last month, helped by an increase in both exports and local sales, data showed on Thursday.

In April, the combined output of five carmakers here came to 371,930 units, up 5.0 percent from the same month last year, according to the data from the Ministry of Trade, Industry and Energy.

The five automakers are Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co.

Auto output grows on sound exports, domestic sales in April - 1

The ministry partly attributed the increase to a rise in the number of working days in the month to 22 from 21 over the cited period.

Still, what pulled up the overall production may have been a rise in outbound shipments, which came to 223,235 vehicles, up 3 percent from a year before, according to the ministry.

Also in terms of value, the country's auto exports climbed 5.8 percent on-year to US$3.76 billion, it said.

Domestic sales of locally produced cars gained 1.5 percent from a year earlier, apparently contributing to the increase in output.

However, domestic sales of all-new vehicles dropped 3.6 percent on-year to 155,028 units due to a 28.3 percent plunge in the sales of imported vehicles, the ministry said in a press release.

Outbound shipments of auto parts remained still from a year earlier at about $2 billion, it added.

bdk@yna.co.kr
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