S. Korea's auto export falls in April on U.S. tariffs imposition-Xinhua

S. Korea's auto export falls in April on U.S. tariffs imposition

Source: Xinhua

Editor: huaxia

2025-05-20 10:33:16

SEOUL, May 20 (Xinhua) -- South Korea's automotive export fell last month on the back of the U.S. tariffs imposition, government data showed Tuesday.

Car shipment shrank 3.8 percent from a year earlier to 6.53 billion U.S. dollars in April after growing in single digits in the previous month, according to the Ministry of Trade, Industry and Energy.

The downturn was attributed to the U.S. tariffs imposition, which reduced the U.S. demand for locally-made vehicles, and weaker demand for eco-friendly sedans.

Auto export to the United States tumbled 19.6 percent to 2.89 billion dollars, but those to the European Union (EU) and Asia spiked in double figures.

Shipment of eco-friendly vehicles retreated 2.9 percent to 2.22 billion dollars in April compared to the same month of last year.

The number of exported vehicles came to 246,924 in April, down 8.8 percent from a year earlier. Auto parts shipment gained 3.5 percent to 2.03 billion dollars.

The number of vehicles, manufactured in local factories, dipped 2.2 percent to 385,621 in April on a yearly basis.

The number of cars sold in the country, including locally-made and imported vehicles, was 150,622 in April, up 6.7 percent from a year earlier.