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.

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