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13 Jun 2019, Gergana Bencheva, EMIS Editor

S Korea’s auto output grows 4.1% y/y in May

South Korea's overall auto output went up by 4.1% on an annual basis to 366,152 units for May 2019, Yonhap News reported referring to data provided by the Ministry of Trade, Industry and Energy. The boost was backed by strong demand at home and abroad combined with the greater number of working days in May.

Auto exports alone rose by 13.6% year-on-year to USD 3.95 billion in terms of value and by 6.1% to 226,096 in terms of quantity. The growth was attributed to the robust sales of SUVs and eco-friendly cars.

The combined production data involved the activity of five automakers, namely Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co, Yonhap News added.

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