Output by South Korean carmakers jumped 23.3 percent in January from a year earlier on the back of strong overseas shipments, a local industry group said Monday.
Industry leader Hyundai Motor Co. and four other local automakers produced a combined 410,602 vehicles last month, according to the data compiled by the Korea Automobile Manufacturers Association.
The export volume also advanced 17.1 percent on-year to 288,344 vehicles in January, with the total value reaching $4.27 billion.
Market watchers said the increase in the export volume is attributable to improved sales of large sedans and sport utility vehicles, which moved up 38.8 percent and 27.6 percent on-year, respectively.
Meanwhile, 117,323 cars were sold in the domestic market in January, up 10.3 percent from a year earlier, the data showed. The figure, however, marks a 20.2 percent on-month decrease as the incentives on consumption tax expired in December.
On the other hand, sales of imported cars spiked 30.8 percent on-year in January to reach 12,345 vehicles, boosted by improved sales in diesel-powered automobiles, which jumped nearly two-fold over the cited period, KAMA added. (Yonhap News)
