South Korea’s auto exports reduce

Seoul, July 24 (IANS) South Korea’s auto exports declined in the second quarter amid surging demand for foreign luxury cars among local consumers, customs data showed on Friday.

Auto exports by South Korea’s carmakers dipped 4.7 percent from a year earlier to $11.09 billion in the second quarter, according to Korea Customs Service. In the first quarter, the car shipments increased 8.9 percent.

During the April-June period, $2.44 billion of foreign luxury cars were imported, less than a quarter of the export value but up 26.2 percent from the same period of last year.

South Korea exported the largest value of cars to the US, while importing the biggest luxury vehicles from Germany.

The per-unit export price averaged $13,963 in the second quarter, down 4.7 percent from a year earlier. The per-unit import price fell 0.8 percent to $30,296 due to the implementation of free trade deals with Europe and the US.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here