South Korean Auto Exports Drop Off in Q1
kpride, April 7, 2015, 9:24 a.m.
Carmakers saw a sharp drop in exports in the first quarter of this year. Roughly 735,000 cars were shipped overseas in the first three months, down 6.6 percent on-year, the Korea Automobile Manufacturers Association said on Tuesday.
Export value was down 9 percent in the period. The association attributed the poor quarterly performance mainly to the weak yen, which has benefitted rival Japanese automakers, and slow growth in emerging markets.