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S. Korea's auto production rises on demand at home, abroad
Last Updated: 2017-08-11 08:01 | Xinhua
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Automobile production in South Korea rose last month due to robust demand both at home and abroad, a government report showed Thursday.

The number of cars manufactured in local factories was 371,343 in July, up 3.1 percent from a year earlier, according to the Ministry of Trade, Industry and Energy.

Car exports increased 5.1 percent over the year to 228,229 units in July on recovering demand from Europe.

Auto sales in the domestic market gained 8.1 percent to 149,149 units. Among the total, imported car sales jumped 12.6 percent to 19,527 units, while the sale of cars made by domestic companies expanded 7.3 percent to 129,622.

The local car sales rebounded last month, ending the downward trend that had lasted for four months to June. The rebound was attributable to a so-called low base effect, which means the very low sales in July last year.

During the January-July period, auto production declined 0.9 percent compared with the same period of last year.

Auto exports fell 0.2 percent in the cited period, with domestic car sales dipping 1.9 percent.

Exports of auto parts by local companies tumbled 13.3 percent from a year earlier to 1.89 billion U.S. dollars in July due to lower car sales in the United States and China, the world's top two car markets.

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