S. Korea’s auto exports down 1.6% in Feb.
Shipments to the Middle East stood at $299 million, down 8.4 percent over the cited period, with other European countries taking up $249 million, a rise of 12.1 percent. The Asian market purchased $177 million worth, up 20.7 percent.
By company, Hyundai Motor saw its exports drop 6.4 percent on falling demand for compact and smaller cars like its Avante and Accent.
The overseas shipments of Hyundai’s smaller sister firm Kia Motors rose 15.6 percent over the cited period on the back of compact sport utility vehicles such as the new Soul Booster.
GM Korea and SsangYong Motor saw their vehicle exports decline 10.7 percent and 5.8 percent, respectively, on-year in the month.
The numbers for Renault Samsung Motors nose-dived 36.1 percent due to suspended shipments to Iran.
By Ram Garikipati and newswires (firstname.lastname@example.org)