Korean automakers posted their worst export performance in 36 months in August. According to the Korea Automobile Manufacturers Association on Sunday, domestic carmakers manufactured 237,477 vehicles in August, down 25.9 percent from the same month last year, and domestic sales plummeted 24.9 percent to 86,072 vehicles, while exports dropped 23.6 percent to 164,805.
The figures were the lowest output and exports since August 2009. Domestic sales last month were already the lowest since January 2009.
The association attributed the decline to the annual strikes at major carmakers that disrupted output. Workers at Hyundai Motor, Kia Motors and GM Korea went on a partial strike in August.
But Renault Samsung and Ssangyong did not experience any strikes, yet the impact of the eurozone crisis and a slump in the global car market drove exports down 56.4 percent at Renault Samsung and 18.9 percent at Ssangyong.