In spite of the strike at Korean carmaker Yoosung Enterprise, South Korean automobile
production in May this year rose 10.5 percent year on year to 388,666 units thanks to the growing pace of exports. Meanwhile, the country auto output in the first five month of the year were up 9.2 percent year on year, increasing to 1,864,993 units.
Domestic auto sales in May this year increased 3.7 percent year on year due to the release of new models, including Hyundai' s Grandeur (HG), Kia's Morning(TA), GM Korea's Arlando and Ssangyong's Korando C, but declined 5.1 percent from the previous month owing to the strike at Yoosung which resulted in supply shortage for such popular models as Santa Fe, Starex, Porter and Sportage R.
On the back of the rising preference for small-sized cars with high fuel-efficiency amid higher oil prices, increasing auto demand in emerging markets and introduction of export-oriented models, South Korea's auto exports in May this year climbed 10.6 percent year on year to 261,602 units. Exports for the first five months rose by 15.2 percent year on year to 1,235,595 units.