S. Korea's car exports to Africa soar, shipments to Asia plunge

By Park Sae-jin Posted : November 21, 2012, 17:47 Updated : January 1, 1970, 09:00
Exports of South Korean vehicles to African countries in the first nine months of 2012 soared 21.4 percent to 146,976 units from a year earlier, a trade association said on Nov. 21.

Car exports to Asian countries, on the other hand, plunged 18.2 percent on-year to 129,074 units over the nine-month period, the Korean Automobile Manufacturers Association (KAMA) said. The KAMA said Asian markets contracted amid global economic slowdown. In particular, he said, Japanese automakers are intensifying marketing activities in Southeast Asian countries.

KAMA officials attributed the sharp rise of car exports to Africa to an economic boost in the wake of stabilized political situations in the continent.

An official of Hyundai Motor, South Korea’s No. 1 automaker, said shipments of vehicles to South Africa soared after Hyundai's marketing campaigns during the 2010 FIFA World Cup.

Demand in Algeria, Libya and Morocco is also increasing after civil uprisings came to an end in those countries, the official said.

Hyundai and its affiliate Kia Motors exported a combined 104,819 units to Africa, up 32.9 percent from 78,890 units a year ago.

Exports of vehicles manufactured by GM Korea, the local unit of U.S. General Motors, to North Africa are expected to reach 25,000 units by year-end, up 66.7 percent last year, a company spokesperson said.
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