SEOUL, Oct. 31 (Xinhua) -- South Korea's passenger car export turned downward in the third quarter due to weaker demand for eco-friendly vehicles and gasoline sedans, customs office data showed Thursday.
Passenger car shipment retreated 4.7 percent over the year to 14.0 billion U.S. dollars in the July-September quarter, marking the first decline in two and a half years since the first quarter of 2022, according to Korea Customs Service.
Outbound shipment for eco-friendly vehicles reduced 1.3 percent in the cited quarter, while shipment for medium-sized gasoline sedans dwindled in double digits.
Demand from the United States and Canada for locally-made passenger cars gained ground, but those from France, Britain and Australia slipped in the quarter.
Imports for foreign passenger cars mounted 12.6 percent from a year earlier to 3.0 billion dollars in the third quarter, turning around in five quarters.
The number of exported sedans shrank 3.0 percent to 590,000 in the quarter, but the number of imported sedans jumped 26.1 percent to 70,000.
The average export price for passenger vehicles decreased 1.7 percent to 23,562 dollars per unit in the third quarter, while the average import price for foreign sedans dropped 10.7 percent to 40,711 dollars. ■
