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S.Korea's automotive production, export, local sale fall in March

SEOUL
2021-04-13 13:33

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SEOUL, April 13 (Xinhua) -- South Korea's automotive production, export, local sale fell last month due to a shortage of semiconductors used for vehicles, a government report showed Tuesday.

The number of cars produced in domestic factories was 333,848 in March, down 9.5 percent from the same month of last year, according to the Ministry of Trade, Industry and Energy.

It was attributed to the supply shortage of vehicle chips that reduced the auto production in factories of GM Korea, Renault Samsung and Ssangyong.

The automotive sale in the local market shed 0.9 percent over the year to 171,340 units in March. The sale of locally made vehicles declined 6.2 percent, but the imported car sale soared 33.7 percent.

The number of cars exported was 203,837 in March, down 1.4 percent from a year earlier.

In terms of value, the vehicle shipment advanced 15.3 percent to 4.4 billion U.S. dollars on the back of solid demand for premium models. The auto parts export gained 13.9 percent to 2.2 billion dollars last month.

During the January-March quarter, the car production advanced 12.2 percent compared to the same quarter of last year. The local sale and the export of vehicles expanded 11.3 percent and 16.9 percent in the quarter.

The double-digit increase came as the auto production, export and domestic sale grew in double figures in January and February.
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