P.M. BRIEFING : So. Korea Export Car Sales Sag

South Korea exported 249,000 motor vehicles between January and October, down 9.5% from a year ago, the Korea Automobile Manufacturing Assn. reported today.

The decline in exports was attributed to price competition and sluggish demand in the United States, which is Korea’s biggest export market.

The association said the number of Korean-made vehicles sold on the domestic market in the first 10 months of this year jumped 24.8% to 768,000 from a year ago. Total sales rose to 748,000 cars, up 9.4% from a year ago, and 269,000 commercial vehicles, up 29.7%.

The officials said Hyundai Motor Co. topped the list of Korean auto makers by marketing 530,000 vehicles at home and abroad in the 10 months, up 7% from a year ago. It was followed by Kia Motors Corp. with 313,000 motor vehicles, up 24.7%, and Daewoo Motor Co. with 135,000 vehicles, up 15.4%.