April 27, 2024

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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 May 16.

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, Kia Motors, GM Korea, Renault Samsung Motors and SsangYong Motor.

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 $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.

By Ram Garikipati and newswires (ram@heraldcorp.com)