South Korea vehicle exports fell by 18.8% year on year to 182,795 units in August, reflecting industrial action at the country’s largest automakers, according to the Ministry of Trade, Industry and Energy.
In value terms, vehicle exports fell by 16.9% to US$2.99bn while exports of automotive parts declined by 9.6% to US$1.92bn over the same period.
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Vehicle production fell by 20.6% to 272,744 units in August, with combined output at the country’s two main vehicle manufacturers, Hyundai Motor and its affiliate Kia Motors, falling by 24,414 units compared with the same month last year.
Domestic sales were down by just by 4% to 106,645 units, however, while sales of imported vehicles jumped 17.6% to 16,442 units.
