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S. Korea Sees Auto Production, Exports, Domestic Sales Rise in August

Written: 2022-09-16 19:35:19Updated: 2022-09-16 19:56:52

S. Korea Sees Auto Production, Exports, Domestic Sales Rise in August

Photo : YONHAP News

South Korea, the world's fifth-largest carmaker, saw an increase in auto production as well as inbound and outbound vehicle shipments in August, marking its first rise in 19 months. 

According to data by the Ministry of Trade, Industry and Energy on Friday, the country's auto exports topped 168-thousand last month, up 29-point-one percent from a year earlier. 

The value of outbound auto shipments soared by 35-point-nine percent on-year to four-point-12 billion dollars, the largest tally for the month of August.

Auto production also increased by 21 percent on-year to 284-thousand-361 units last month, in line with a recovery of supplies for chips used in vehicles. Auto production posted growth for four straight months since May, which is a first in three years and eight months. 

Domestic sales inched up by one percent on-year to 131-thousand-638 units in August, bouncing back from a decline of 19 consecutive months.

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