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Auto Production, Exports Rise, Domestic Sales Decline in April

Write: 2019-05-16 16:54:14Update: 2019-05-16 17:22:32

Auto Production, Exports Rise, Domestic Sales Decline in April

Photo : YONHAP News

Production and exports by South Korean automakers grew last month from a year earlier, but car sales in the nation diminished due in part to a steep fall in demands for imported cars. 

The Ministry of Trade, Industry and Energy on Thursday estimated that 371-thousand-930 vehicles were assembled in the country in April, five percent more than the same month last year. 

The domestic sales of cars, however, declined by three-point-six percent on-year to just over 155-thousand as sales of imported cars significantly slid. 

A total of 223-thousand-235 cars were sold overseas in April, up three percent from a year earlier, led by the popularity of high-priced sports-utility vehicles and eco-friendly cars in the U.S. and Europe. 

The exports grew five-point-eight percent to three-point-76 billion dollars. 

Domestic sales of environment-friendly vehicles such as electric and hydrogen cars also jumped 57-point-eight percent to 13-thousand-109 thanks to expanded government subsidies. This raised the ratio of eco-friendly vehicles to the cars sold domestically from five-point-one percent last April to eight-point-four percent in a yearlong span.

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