SEOUL, KOREA - Domestic car production hit the year’s high in October 2013. According to the Korea Automobile Manufacturers Association (KAMA), domestic car production reached 425,577 units in October 2013, up 7.3 percent from a year ago.
This figure represents the year’s record-high monthly production volume. The increase in production was driven by an increase in exports, plus the normalization of work at major carmakers following earlier labor strikes there.
Domestic car demand increased by 20.7 percent compared to a month ago but down 1.5 percent year on year. Car exports grew by 9 percent year on year to 280,609 units, thanks to the normalization of output and the strengthening of product competitiveness and brand recognition for domestically made cars.
For the January-October period of this year, cumulative car production fell by 1.1 percent to 3,675,746 units from a year ago. Domestic demand and exports also fell by 0.7 percent and 3.2 percent, respectively, year on year.
