S.Korea's sales of overseas-made cars post double-digit decline in August

Source: Xinhua| 2017-09-12 14:24:21|Editor: liuxin
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SEOUL, Sept. 12 (Xinhua) -- Sales of overseas-made cars by South Korean automakers posted a double-digit decline last month on weak demand in China and the United States, a government report showed Tuesday.

The number of cars, which were manufactured by South Korean automakers in overseas factories and sold in foreign markets, stood at 336,012 units in August, down 14.7 percent from a year earlier, according to the Ministry of Trade, Industry and Energy.

Top carmaker Hyundai Motor and its affiliate Kia Motors saw car sales in the Chinese market almost halve in recent months, with their sales in the U.S. market keeping a double-digit fall on soft demand.

The country's top two automakers produced most of its cars, sold in China, in their Chinese factories, while around half of their cars, sold in the United States, were manufactured in the U.S. plants.

Meanwhile, auto production in South Korea jumped 26.3 percent over the year to 274,166 units in August thanks to strong demand in the domestic market.

Local car sales advanced 11.7 percent to 139,107 vehicles in the cited period.

The country's auto exports jumped 24.1 percent to 174,363 units last month on robust demand from the European Union (EU) countries and the Oceanian nations.

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