In March this year South Korea's total car output surged by 46 percent year on year, reaching 382,150 units, due to the growth in both domestic sales and exports, according to a report released by the Korea Automobile Manufacturers Association (KAMA). The increase rate was recorded at 37.75 percent compared to the previous month. Meanwhile, year-to-date
production rose 41.6 percent year on year, registering 974,365 units.
Thanks to the recovery of consumer confidence and the impact of the release of new car models, domestic sales in March increased by 29.5 percent year on year and by 16.12 percent month on month, totaling 123,693 units. Domestic orders for the first quarter of 2010 jumped by 35.9 percent to 349,663 units, maintaining their pace of growth.
South Korean car exports in March climbed by 47.5 percent year on year and were up 38.94 percent month on month to 238,631 units, attributed to recovering demand in the US, South Korea's largest market, and also in Western Europe, coupled with the fast growth of sales in emerging countries in Latin America and the Middle East. In the January-March period this year, exports surged 35.2 percent year on year, reaching 589,969 units, maintaining their upward pace.