S Korea\\\'s auto exports fall in January on weak yen

SEOUL, Feb 8 (Xinhua): South Korea's auto exports declined last month as Japanese currency's weakness hurt competitiveness of local carmakers in overseas markets, a government report showed Sunday.

Auto exports slid 2.8 per cent from a year earlier to 249,675 units in January, according to the Ministry of Trade, Industry and Energy.

The slide came as the weak Japanese yen damaged price competitiveness of domestic carmakers. The yen/dollar exchange rate jumped 13.7 per cent from a year earlier to 118.37 per dollar in January.

Weak demand from Eastern Europe, including Russia, also contributed to the January auto reduction.

Hyundai Motor's car exports retreated 8.4 per cent from a year earlier to 93,528 units in January, with Kia Motors posting 102, 430 vehicles last month, almost unchanged from the prior year.

GM Korea's auto exports tumbled 10.5 per cent to 38,491 units, and Sangyong Motor's shipments plunged 42.7 per cent last month.