S. Korea’s auto export, production, local sale post double-digit growth in January

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SEOUL, Feb. 15 (Xinhua) — South Korea’s automotive export, production, local sale all posted a double-digit growth in January, a government report showed Monday.

It marked the first time in five months since September last year that all of the export, production and local sale of vehicles gained ground, according to the Ministry of Trade, Industry and Energy.

The number of locally-made cars shipped overseas was 192,322 in January, up 29.5 percent from a year earlier.

Automotive export to North America, the European Union (EU), East Europe and Asia all advanced in double figures, but car shipment to the Middle East declined in double digits.

In terms of value, the automotive export jumped 40.2 percent over the year to 4.0 billion U.S. dollars in January. It was the biggest export value since September 2017.

The number of vehicles sold here was 137,692 in January, up 18.4 percent from a year earlier.

It was attributed to the launch of new models, a temporary tax cut for car purchase and more working days.

The number of cars produced here increased 24.9 percent from a year earlier to 314,190 in January due to stronger car sale both at home and overseas. Enditem

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