SEOUL, Oct 17 (Bernama-Yonhap) -- South Korea's car exports increased by 4.9 per cent yer-on-year in September, reaching a new record, data showed on Thursday. This rise is driven by demand for SUVs and electric model, according to the Korean news agency, Yonhap.
The combined value of car shipments reached US$5.5 billion last month, marking the highest amount for any September, according to data compiled by South Korea’s Ministry of Trade, Industry and Energy.
The number of cars shipped totalled 205,574, up 4.4 per cent over the period, the report also showed.
Environmentally-friendly models led the overall growth, with their outbound shipments jumping by 12.3 per cent to reach US$1.96 billion. Exports of hybrid cars, in particular, soared by 75.6 per cent over the period to US$1 billion.
The number of cars produced in September totalled 307,026, a 1.7 per cent increase from the same period last year, as local manufacturers ramped up production to meet rising overseas demand despite one fewer working day compared with the previous year.
Meanwhile, domestic sales of automobiles reached 130,685, down 2.3 per cent over the period.
-- BERNAMA-YONHAP
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