South Korea's auto production rises, exports decline in Mar
Time:Tue, 22 Apr 2025 09:00:35 +0800
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According to South Korea's Ministry of Trade, Industry, and Energy (MOTIE), South Korea produced approximately 371,000 units of automobiles in March, increasing by 1.5% compared to the previous year. Domestic sales reached about 150,000 units, rising by 2.4% yearly. However, exports decreased by 2.4% year on year to roughly 240,000 units.
The South Korean government announced an emergency support package to counter the export impact of US tariffs. Measures include reducing the special consumption tax on new vehicle purchases and promoting the procurement of commercial vehicles by public agencies, institutions, and local governments in the first half of 2025.
