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S. Korea's Auto Output, Exports Rise in March Despite COVID-19 Pandemic

Written: 2020-04-12 14:30:23Updated: 2020-04-12 14:33:12

S. Korea's Auto Output, Exports Rise in March Despite COVID-19 Pandemic

Photo : YONHAP News

South Korea saw increases in production, domestic demand and exports in March despite the economic fallout of the COVID-19 pandemic.
 
According to tentative data by the Ministry of Trade, Industry and Energy on Sunday, the country's automobile output increased six-point-eight percent last month, while shipments for the local market and exports rose about ten percent and one-point-three percent, respectively.
 
The local auto industry produced 369-thousand vehicles last month, up six-point-eight percent from a year earlier on the back of the release of new models and strong sales of recent models.
 
The industry sold nearly 173-thousand cars in the local market in March, up ten-point-one percent on-year.
 
The country's outbound auto shipment came to around 210-thousand vehicles or three-point-82 billion dollars in the month.
 
A ministry official, however, projected the nation is likely to see drops in auto exports after April amid the rapid spread of the virus.

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