Korea’s auto industry logs double-digit growth in production, domestic sales and exports in April

Korea’s auto industry logs double-digit growth in production, domestic sales and exports in April


Korea’s automakers and the auto industry in
general enjoyed a bumper month in April.
Double digit growth was seen in all production,
domestic sales and exports.
Arirang News’ Park Ji-won has the details.
Korea’s auto industry fared very well last
month in all areas — production, domestic
sales and exports.
According to figures released by the trade
ministry Thursday,… Korea’s auto industry
logged double-digit growth across the board
in April compared to the same month last year.
Vehicle exports, in particular,… hit a record
high in April,… coming in at over four-point-eight
billion U.S. dollars.
Exports of auto parts reached the second highest
ever monthly amount at two-point-three-four
bilion dollars.
Breaking down the figures by automaker,…
Hyundai Motor and Kia Motors,… which shipped
nearly 80 percent of all vehicles last month,…
posted double digit growth on-year.
The popularity of Hyundai’s small-and-mid-sized
models,.. such as Accent and Avante,… and
the increasing popularity of Kia’s new K3
played a big part in the staunch growth.
Normalized operations at Hyundai and Kia’s
assembling factories in Korea also attributed
to the on-year growth.
Auto sales in Korea saw an over 11 percent
on-year increase in April.
More than 147-thousand units were sold domestically.
Of the total, over 130-tousand were Korean
cars,… and they were mainly mid-sized cars
and sport-utility-vehicles.
It marks the first time in 16 months that
Korean automakers have sold more than 130-thousand
units in Korea in a single month.
Production was in full swing as well.
Over 433-thousand cars were manufactured in
Korea in April,… up more than 12 percent
on-year.
Park Ji-won, Arirang News.

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