South Korea’s car production fell by 11.13pc in November to 346,379 units from the prior year as weak global demand and repeated labour disputes impacted sales and production.
The November figures are still 5.5pc greater than this year’s monthly average of 328,462 units, according to South Korea’s Ministry of Trade, Industry and Energy. Production numbers include vehicles manufactured by Hyundai Motor, Kia Motors, GM Korea, Ssangyong Motor, Renault Samsung Motors, Zyle Daewoo Bus, and Tata Daewoo.
South Korea’s domestic auto sales reached 160,586 units in November, down by 1.3pc from the prior year. Sluggish global auto demand coupled with repeated labour disputes have affected auto sales and production in Korea. Local sales of Korean-made cars decreased 3.1pc to 134,313 units, while those of imported cars rose by 8.9pc to 26,273 units as German brands gained popularity.
Korea’s auto production by major finished vehicles manufacturers reached 3,613,077 units from Jan-Nov 2019, down by 1.6pc from the prior year. Since 2009, Korea has produced over 4mn cars per year, but looking at the latest production figures, car production for the current year could remain under the 4mn unit mark.