According to a report released by the Korea Automobile Manufacturers Association (KAMA), in February this year South Korea's total car output surged 17.1 percent year on year, reaching 277,433 units, due to the growth in both domestic sales and exports. Meanwhile, year-to-date production rose 38.5 percent year on year, registering 590,280 units.
Thanks to the recovery of consumer confidence and the impact of the release of new car models, domestic sales in February increased by 21.2 percent, totaling 106,522 units. Domestic orders for the first two months of 2010 jumped by 39.7 percent to 225,970 units, maintaining their pace of growth.
South Korean car exports in February rose by 13.3 percent to 171,746 units, attributed to recovering demand in emerging countries including Latin America, Middle East, Asia-Pacific and Eastern Europe. In the January-February period of 2010, exports surged 27.6 percent year on year, reaching 350,324 units, maintaining their upward pace.