Seoul: SiltaNews – News Desk
Korea’s auto exports rose from a year earlier in March, driven by robust demand for hybrid vehicles, government data showed Wednesday, Yonhap News Agency reported. The combined value of automobile exports came to US$6.37 billion last month, up 2.2% from the same month last year, according to the data from the Ministry of Trade, Industry and Resources.
It marks the second-highest figure for any March, the ministry said. Hybrid cars, whose combined value of exports surged 79% on-year, contributed to the March performance. By destination, shipments to the European Union jumped 33%, but exports to Asia and the Middle East fell 38.4% and 40.8%, respectively, partly due to the war between the United States and Iran, the data showed.
For the three months ending in March, the combined exports of automobiles fell 0.2% from the same period a year earlier to $17.2 billion. Domestically, 164,813 vehicles were sold last month, up 10.2% on-year.