Korea Falls to 6th Place in Global Car Production

  • By Shin Eun-jin

    September 26, 2016 10:36

    Korea was overtaken by India in the first seven months of the year and dropped to sixth place in terms of car production.

    If the trend continues, Korea will no longer rank among the top 5 automakers for the first time in 12 years.

    Domestic production shrank due to drawn-out strikes at Hyundai and other carmakers despite increased output at factories operated overseas.

    The Korea Automobile Manufacturers Association on Sunday said the country's accumulated output in the first seven months of this year stood at 2.55 million vehicles, compared to India's 2.57 million.

    Korea was the world's fifth-largest automaker for the last 11 years.

    A KAMA spokesman said, "Demand for cars is increasing steadily in India due to stable economic growth, but Korea is experiencing both lackluster private consumption and exports."

    He warned that Korea also faces the prospect of being overtaken by seventh-ranked Mexico as global automakers including Korea's own Kia set up production plants there.

    Meanwhile, Hyundai's union pledged to launch a full strike on Monday, the first in 12 years.

    • Copyright © Chosunilbo & Chosun.com
    Previous Next
    All Headlines Back to Top