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S. Korea's Car Exports Fall 14.9% in July

Written: 2016-08-09 18:34:42Updated: 2016-08-09 18:44:11

S. Korea's Car Exports Fall 14.9% in July

South Korea's automobile exports fell nearly 15 percent last month from a year ago.

According to the Ministry of Trade, Industry and Energy on Tuesday, outbound shipments of vehicles came to 219-thousand-982 units in July, down 14-point-nine percent on-year. 

The total value of auto exports marked a decrease of 14-point-six percent to three-point-39 billion U.S. dollars.

Domestic car sales also dropped 12-point-one percent on-year to 137-thousand-992 units last month as the government-led tax-cut program on cars expired on June 30th.

The ministry said that strikes at domestic automakers and a slowdown in the global economy dragged down the country’s car exports.

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