SEOUL: South Korea’s automobile exports fell in November from a year earlier on weaker demand from emerging markets, the government said Monday. Outbound shipments of vehicles came to 263,687 units last month, down 3.5 percent from a year earlier, according to the Ministry of Trade, Industry and Energy. From the previous month, however, exports were up 5.6 percent.
“Exports to the United States and the European Union did well, but demand in Russia, Latin America and other emerging economies caused overall numbers to fall,” the ministry said.
Overseas shipments got a boost from strong sales of the all-new Tucson and i30 made by Hyundai Motor Co., South Korea’s No. 1 carmaker, along with demand for the Optima and the Sorento by Kia Motors Corp. and the Spark by GM Korea Co., it said. Such gains were, however, offset by poorer showings by models like Hyundai’s Accent, Genesis and Sante Fe.
Hyundai’s sales were down 12.2 percent on-year in November, although numbers for Kia and GM Korea were up 2 percent and 3.5 percent, respectively. Hyundai sold 96,252 cars last month, trailing its sister brand Kia’s 108,422 units.
The number for GM Korea, which makes cars under the Chevrolet badge, reached 40,742 units, with exports of Ssangyong Motor Co. dropping 20.1 percent to 3,353 vehicles, while Renault Samsung Motors Co. posted outbound shipments hitting 14,867 units, a gain of 10.1 percent from the previous year.
Exports of auto parts edged up 1.8 percent on-year to US$2.04 billion last month, due in part to a rise in sales in places like the U.S., China and India.
The ministry said Hyundai’s overseas production, which is closely linked to parts, reached 264,686 units, up 10.7 percent on-year, while corresponding numbers for Kia climbed 11.2 percent to 114,930 vehicles.
Total output by the five main local carmakers moved down 2.8 percent on-year in November to 395,004 units. Domestic sales were up a sharp 14.4 percent to 165,570 cars, which resulted from a cut in excise taxes and the release of new models, the ministry said.
