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S. Korea's automotive export posts double-digit fall in November

SEOUL
2020-12-14 11:02

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SEOUL, Dec. 14 (Xinhua) -- South Korea's automotive export posted a double-digit fall last month as the COVID-19 resurgence weakened demand from Europe and the Middle East, a government report showed Monday.

The number of locally-made cars shipped overseas was 190,657 in November, down 10.2 percent from a year earlier, according to the Ministry of Trade, Industry and Energy.

It was attributable to the COVID-19 resurgence across the world that curtailed demand especially from Europe and the Middle East.

In terms of value, the automotive shipment rose 2.1 percent to 3.99 billion U.S. dollars owing to robust demand for high-priced sport utility vehicles (SUVs) and large-sized sedans.

The number of domestic vehicle sales expanded 5.8 percent over the year to 171,228 in November due to demand for newly launched models.

The number of vehicles produced in local factories was 324,472 in November, down 6.3 percent from a year earlier. It was due to the labor-management conflict in a part of carmakers.

The domestic sale of environmentally-friendly vehicles more than doubled to 28,218 units in November, while the export of those vehicles shrank 9.7 percent to 25,760 units.

Auto parts export increased 6.5 percent to 1.89 billion U.S. dollars on demand from the North American market.
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