South Korea's vehicle exports grew in value for the fifth consecutive month propelled by the release of new sport utility vehicles with high unit prices and the growing popularity of electric cars.

According to the Korea Automobile Manufacturers Association and the Ministry of Trade, Industry and Energy on Monday, South Korea’s auto exports reached two-point-98 billion U.S. dollars in August, up four-point-six percent from a year ago. 

The last time auto exports saw growth for five straight months was in June 2017. 

By volume, however, on-year shipments were down three-point-four percent last month to 164-thousand-154 vehicles, likely due to a slump in the global auto market.