S. Korea's auto export turns downward in April

Alsharq Tribune-Otaify 

South Korea's automotive export turned downward last month amid continued Middle East tensions, government data showed Wednesday.

Car shipment declined 5.5 percent from a year earlier to 6.17 billion U.S. dollars in April, after rising in single digits in the previous month, according to the Ministry of Trade, Industry and Resources.

Automotive export to the United States fell 5.3 percent to 2.74 billion dollars, and shipments to the European Union retreated 13.1 percent to 828 million dollars.

Those to Asia and the Middle East tumbled in double figures due to Middle East tensions, leading to high oil prices.

Demand remained strong for eco-friendly vehicles, with exports rising 13.5 percent to 2.52 billion dollars in April on a yearly basis.

The eco-friendly vehicles include electric vehicles, fuel cell electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles.

The number of exported vehicles totaled 244,990 in April, down 0.8 percent compared with the same month of last year. Auto parts shipment shrank 6.0 percent to 1.90 billion dollars.

The number of vehicles, manufactured in local factories, decreased 6.1 percent to 361,926 last month.

The number of cars sold inside the country, including locally-made and imported vehicles, was 151,693 in April, up 0.7 percent from a year earlier.