Auto exports surpass US$10 bln in Jan.-Feb. period

South Korea's auto exports during the first two months of the year surpassed US$10 billion won, industry data showed Sunday. According to the Korea Automobile Manufacturers Association, the combined exports of five automotive manufacturing companies in the country, including Hyundai Motor Co. and Kia Corp., reached $10.4 billion during the January-February period. The figure represents 9.4 percent on-year growth compared with last year. In terms of units, combined exports reached 421,668 units, up 4.8 percent from 2023. Per company, Hyundai Motor logged a 7 percent increase to reach $4.65 billion, or 44.8 percent of all exports during the cited period. Kia's exports rose 2.5 percent to $4.17 billion. Hyundai and Kia's combined exports accounted for 84.3 percent of all shipments during the period. GM Korea's overseas shipments surged 73.2 percent to $1.26 billion, logging the biggest on-year growth among the five companies. KG Mobility's exports also jumped 54.7 percent to $205.5 million. Exports of Ren ault Korea, meanwhile, fell 59.9 percent to $87.37 million, making it the only one among the five companies to experience a decline in overseas shipments. Source: Yonhap News Agency