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Due to the new coronavirus infection (Corona 19), Korean automobile production last year was found to have reached the minimum level since 2004. Exports were the lowest since 2003. According to the Korea Automobile Industry Association (KAMA) on the 23rd, last year’s domestic automobile production was 3.56,848 units, down 11.2% from the previous year. This is the lowest since 2004, 3.49,464 units.
This year’s domestic sales of five domestic automakers recorded the highest ever due to individual consumption tax cuts and new car launches, but exports plunged as the overseas automobile market was almost paralyzed by Corona 19. In addition, at the beginning of this year, the factory was shut down due to a shortage of stocks of Chinese-made parts’wiring harness’.
Last year, automobile exports were 1.86 million units, down 21.4% from the previous year, and the lowest level since 1.84,938 units in 2003. By maker, the production of GM Korea, Renault Samsung, and Ssangyong Motors, which are three foreign companies, was remarkable. The number of GM Korea was 3,54,800 units, the lowest since 2004 (300,000,346 units). It decreased by 13.4% from the previous year’s 499,830 units.
GM Korea suffered a production disruption last year due to a shortage of parts for trail blazers in major vehicles, and the US market was paralyzed by Corona 19, reducing its factory operations. In addition, the labor union held a partial strike for a total of 15 days in the process of bargaining, resulting in a total loss of 25,000 units of production.
Renault Samsung has 114,000 units, the lowest since 2003 (80,906 units). Compared to the 164,974 units last year, it decreased by 30.5%. This is because exports decreased by 77.7% compared to the previous year due to the end of Nissan log consignment production and the aftermath of Corona 19. Domestic sales grew 10.5%, but failed to reach 100,000 units.
Ssangyong Motor produced 106,836 units last year, down 19.7% from the previous year (132,994 units). It was the minimum since 2010 (84,000 units). Ssangyong Motor, which is undergoing a sale negotiations, is the only one out of five domestic automakers that saw a decline in domestic and overseas sales.
Hyundai Motors and Kia, which have good domestic sales performance, were better off. Hyundai Motors produced 1.168,411 units last year, down 9.4%, while Kia’s 1.3 million units, down 9.9%.
/ Reporter Park Hanshin [email protected]
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