In September this year, South Korea's total car output amounted to 343,458 units, rising 44.9 percent compared to August and down 8.2 percent year on year, according to a report released by the Korea Automobile Manufacturers Association (KAMA). September is the fifth consecutive month in which the country's motor vehicle production recorded a year-on-year decline. The report says that the decrease was due to partial strikes at major producers. On the other hand, South Korea's car output in the first nine months of the year saw a year-on-year decrease of 2.1 percent to 3,316,096 units.
In spite of tax reductions as of September 11, sales of South Korean cars in the domestic market in September this year fell 6.8 percent year on year to 116,484 units, affected by the concerns over the stagnant real economy and weaker consumer sentiment. In the first nine months of this year, sales of domestic production cars in South Korea fell by 7.9 percent year on year to 1,019,806 units.
Meanwhile, sales of imported cars continued their growth in September, rising by 14.6 percent year on year to 12,123 units. According to the report, sales of imported cars hit a record high thanks to robust performances by Japanese and German automobile makers. On the other hand, a contraction in the European market and supply shortages caused by partial strikes drove outbound car shipments in September down 7.2 percent year on year to 232,025 vehicles. South Korean car exports in the first nine months of the year rose by 2.9 percent compared to the same period of 2011, totaling 2,339,714.