Japanese car sales in Korea slump 32% m/m in July amid boycott sparked by Tokyo’s trade curbs

The ongoing Seoul-Tokyo trade dispute… and
resulting boycott… caused sales of Japanese cars in Korea plummet last month. The trade ministry said Thursday that sales
of Japanese cars plunged 32 percent in July on-month to less than two-thousand-seven-hundred
units. The figure is also down more than 17 percent
from the same month last year. Meanwhile, Korea’s car production reached
360-thousand units in July, an on-year increase of 17-point-four percent. Korean auto exports were estimated at 2-hundred-16-thousand
last month, up 11-point-six percent the biggest increase since the turn of the year. The rise is largely attributed to booming
sales of eco-friendly vehicles and SUVs in North America and in the EU.

About the Author: Michael Flood

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