S. Korea’s car exports down 59% y/y in May; domestic sales up 30%
- 4 years ago
자동차 국내 판매는 30% 늘었는데…수출은 반토막도 안돼
South Korea's car sales are up sharply in the domestic market this month, but car exports have plunged.
According to the Korea Automobile Manufacturers Association, domestic sales in the first half of May... rose 30 percent on year.
That's in large part because the government decided to cut the special consumption tax on cars by 70 percent.
Exports, meanwhile, were down 59 percent... in the first 20 days of the month, prompting some factories making cars for exports to either temporarily shut down or reduce their manpower.
South Korea's car sales are up sharply in the domestic market this month, but car exports have plunged.
According to the Korea Automobile Manufacturers Association, domestic sales in the first half of May... rose 30 percent on year.
That's in large part because the government decided to cut the special consumption tax on cars by 70 percent.
Exports, meanwhile, were down 59 percent... in the first 20 days of the month, prompting some factories making cars for exports to either temporarily shut down or reduce their manpower.