In November this year, South Korea's total car output surged by 10.1 percent year on year and 3.3 percent compared to October this year, totaling 428,516 units, according to a report released by the South Korean Ministry of Knowledge Economy.
According to the report, weak consumer sentiment and rising fuel prices depressed domestic car sales in November by 12.7 percent year on year and 4.8 percent month on month, to 115,768 vehicles. Meanwhile, sales of imported cars continued to grow, increasing 11.1 percent year on year and 12 percent compared to the previous month to 9,230 vehicles, while exports saw an 15.5 percent increase to 300,105 units, up nine percent compared to October this year, attesting the positive effects of the free trade agreement between South Korea and the EU.