Auto exports up in March on strong demand for hybrid cars: data

Korea's auto exports rose from a year earlier in March, driven by robust demand for hybrid vehicles, government data showed Wednesday. The combined value of automobile exports came to $6.37 billion last month, up 2.2 percent from the same month last year, according to the data from the Ministry of Trade, Industry and Resources. It marks the second-highest figure for any March, the ministry said. Hybrid cars, whose combined value of exports surged 79 percent on-year, contributed to the March performance. By destination, shipments to the European Union jumped 33 percent, but exports to Asia and the Middle East fell 38.4 percent and 40.8 percent, respectively, partly due to the war between the United States and Iran, the data showed. For the three months ending in March, the combined exports of automobiles fell 0.2 percent from the same period a year earlier to $17.2 billion. Domestically, 164,813 vehicles were sold last month, up 10.2 percent on-year.

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