South Korea’s total automotive sales was up 1.7pc in October while production was down 4.3pc, according to their Ministry of Trades, Industry and Energy. Car sales in the country rose by 9.8pc to 24,257 units in October from the year prior, reported South Korean auto association’s data.
South Korea’s auto production dipped 4.3 percent from the year prior to 336,279 units due to less number of business days following Chuseok holidays and strikes at GM Korea. The company’s output decreased by approximately 7,000 units a month. The average daily production volume of the industry was 17,699 in October, up 5.8 percent from a year earlier as stated by the ministry.
Compared to September, car sales rose 11.1pc in October, according to data released by Korea Automobile Importers and Distributors Association (KAIDA). In the January – October period, car sale is up 14pc to 216,004 units from the prior year.
Sale of imported commercial cars in South Korea is up 21pc on the back of robust sales of Mercedes-Benz and Scania, according to KAIDA.
The registrations of imported commercial vehicles rose to 474 units in October from the year prior. The association said that imported commercial vehicles account for a large share in the domestic market. The major commercial vehicles are sold by MAN, Mercedes Benz, Volvo Trucks, Scania and Iveco.
In the 10-month period from January-October, sales have fallen by 10pc to 3,565 units from a year ago due to the pandemic slump. The COVID-19 effects will continue to weigh in on the sales in South Korea, says the association.
South Korea’s automobile exports fell by 3.2pc in October due to fewer business days to 200,666 units.