SEOUL--South Korea's automobile exports reduced last month due
to supply disruption in domestic plants and weak demand from East
Europe, a government report showed Sunday, according to China's
state news agency Xinhua.
Car exports by the country's five auto makers--Hyundai, Kia, GM
Korea, Renault Samsung and Ssangyong--declined 7.3% from a year
earlier to 223,482 units in July, according to the Ministry of
Trade, Industry and Energy.
The reduction came after production in some companies stumbled
due to partial strikes of laborers and lack of weekend extra work,
the ministry said, noting that rising production in overseas plants
and uncertainties over the global economy also contributed to the
export fall, Xinhua reported.
Demand from East Europe showed an outstanding trend of decline.
From January to June, exports to East Europe tumbled 21.9% from a
year earlier to 118,767 vehicles, the largest decline in terms of
region.
Domestic car sales, however, increased 5.8% on-year to 140,642
units in July thanks to robust demand for luxury foreign brands,
Xinhua reported.
Imported car sales surged 38.9% from a year earlier to reach a
record monthly high of 14,953 units in July due to strong demand
for German brands such as BMW, Volkswagen, Mercedes-Benz and
Audi.
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