In June this year South Korea's total car output surged by 23.9 percent year on year due to growth in exports, totaling 391.391 units, according to a report released by the Korea Automobile Manufacturers Association (KAMA). This was the highest monthly
production level achieved in 2010. Meanwhile, in the first half of 2010, South Korea's car
production rose 37.3 percent year on year to 2,099,557 units, marking a new record.
Although there were some positive factors for domestic sales including the recovery of consumer confidence and the impact of the release of new car models, domestic sales in June 2010 regressed by 15.2 percent year on year totaling 121,546 units, due to the very strong surge in sales registered in June 2009 fueled by scrapping incentives combined with the termination of tax cuts. South Korean domestic orders in the first six months of 2010 climbed 14.7 percent year on year amounting to 710,676 vehicles.
South Korean car exports in June went up by 45.7 percent year on year to 261,725 units, attributed to recovering demand in the US, South Korea's largest market, coupled with the fast growth of sales in emerging countries in Latin America and the Middle East. In the January-June period this year, exports surged 42.1 percent year on year, reaching 1,333,991 units.