Vehicle production by South Korea’s five carmakers jumped 21.7% in July, compared with the same month a year ago thanks to strong export performances.
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July marked the ninth straight month of increased output with Hyundai and Kia producing 377,585 vehicles during the month, compared to 310,342 units a year earlier, according to the Korea Automobile Manufacturers Association.
Output for the first seven months of the year surged 34.6% to 2,477,142 units from 1,839,895 units a year earlier on the back of growing domestic sales, as well as the introduction of new vehicles and the recovery of the global market for automobiles, KAMA added.
