S.Korea’s Passenger Car Export Growth Slows In Q3

SEOUL– South Korea’s passenger car export growth slowed in the third quarter, due to the disruption of semiconductor supply, customs office showed today. The passenger vehicle shipment came to 9.7 billion U.S. dollars in the July-Sept quarter, up 4.2 percent from a year earlier, according to Korea Customs Service.

It was lower than the growth rates of 31.4 percent in the first quarter and 71.9 percent in the second quarter amid the supply disruption of chips used to manufacture cars.

The number of exported passenger cars stood at 470,000 in the third quarter, down 11.5 percent from a year earlier.

The average export price per passenger car advanced 17.7 percent to 20,743 dollars in the cited quarter.

The shipment of environmentally-friendly passenger cars jumped 54.3 percent over the year, to reach a new quarterly high of 2.8 billion dollars in the third quarter.

It accounted for 29.3 percent of the total passenger car shipment.

The import of passenger vehicles expanded 12.2 percent to three billion dollars in the third quarter.

The number of imported passenger cars stood at 70,000 in the third quarter, down 3.4 percent from a year earlier.

Source: NAM NEWS NETWORK

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