Output of Korea's 3 Smaller Carmakers Falls to Historic Low

  • By Yoon Hyung-jun

    July 27, 2021 12:52

    The output and sales of Korea's three smaller carmakers -- GM Korea, Renault Samsung and Ssangyong -- fell to a 23-year low in the first half of this year.

    According to the Korea Automobile Manufacturers Association on Monday, the troubled three manufactured just 240,319 cars between them in the first six months, the lowest volume since the height of the Asian financial crisis in 1998.

    Production in the first half declined another 12 percent from the same period last year, when the coronavirus pandemic forced plants shut.

    Their domestic sales totaled only 88,625 cars, which was also the lowest since 1998.

    Industry watchers blame a lack of new models, tough business conditions and the inevitable pall that hangs over brands that are widely reported to be in trouble. A supply shortage of semiconductors and worker strikes also reduced output.

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