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S.Korea's car export almost halves in April over COVID-19

Xinhua News,SEOUL
2020-05-15 14:54

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SEOUL, May 15 (Xinhua) -- South Korea's automotive export almost halved last month on an economic fallout from the COVID-19 outbreak across the world, a government report showed Friday.

The number of vehicles exported in April was 123,906, down 44.3 percent from a year ago, according to the Ministry of Trade, Industry and Energy.

The coronavirus pandemic across the world weakened global demand for vehicles. The auto parts shipment dropped 49.6 percent to 1.02 billion U.S. dollars in the month.

Car sale in the domestic market grew 8.0 percent over the year to 167,375 units in April owing to a temporary tax cut for car purchases and the launch of new models.

The sale of locally-made vehicles rose 6.4 percent to 144,230 units, while the imported car sale jumped 18.7 percent to 23,145 vehicles.

The number of vehicles produced in domestic factories was 289,515 in April, down 22.2 percent from a year earlier.
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