Menu Content
Go Top

Economy

Sales Figures Show Crisis for S. Korean Automakers

Written: 2017-07-11 18:03:44Updated: 2017-07-11 18:43:28

Sales Figures Show Crisis for S. Korean Automakers

New data indicate the South Korean automotive industry is going through a crisis.

According to the Korea Automobile Manufacturers Association(KAMA) on Tuesday, a total of one-million-324-thousand cars were exported in the first half of this year, the lowest in eight years since the outbound shipment of about 940-thousand cars in 2009.

Sales in China of cars made by Hyundai Motor and its affiliate Kia Motors dwindled by more than 40 percent in the first half from the same period last year, affected by China’s economic retaliation over the deployment of U.S.-provided THAAD missile defense.

GM Korea’s exports in Europe also dropped after General Motors began withdrawing from Europe in 2013.

The domestic sales of South Korean cars in the first half also dropped by four percent from last year to 785-thousand.

Domestic production fell to a seven-year low in the first half at two-million-162-thousand.

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >