Japanese automakers’ sales slump in South Korea as boycott bites

FAN Editor
FILE PHOTO: A South Korean woman attends an anti-Japan rally near the Japanese embassy in Seoul
FILE PHOTO: A South Korean woman attends an anti-Japan rally near the Japanese embassy in Seoul, South Korea, August 3, 2019. REUTERS/Kim Hong-Ji

August 5, 2019

SEOUL (Reuters) – Japanese automakers saw their combined South Korean vehicle sales slump in July, data showed on Monday, after Japan’s export curbs to Korea sparked a consumer backlash.

Toyota Motor <7203.T> saw its July sales slump 32% from a year earlier in South Korea, while Honda’s <7267.T> sales skidded 34%, according to data from the Korea Automobile Importers & Distributors Association (KAIDA).

In July, Japan tightened controls on exports to South Korea, escalating a row over wartime forced laborers and sparking a boycott of Japanese products by South Korean consumers.

(Reporting by Hyunjoo Jin; Editing by Sam Holmes)

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