Tuesday, February 22, 2011

automobile industry in korea

Korea's Automotive Industry

The domestic sales of automobiles in June 2010 fell by 15.2% to 121,546 from the previous year, while export (261,725) and import (7,629) rose by 45.7% and 12.0% on a year-on-year basis respectively.

In the first half of 2010, the domestic sales and import showed good performance thanks to the recovering consumer confidence and the release of new models. However, the growth of the industry has been slowed down since May, because of the base effect stemming from the tax benefits for selling clunkers, which started last year.

The export of the first half of 2010 has continued to rise despite the fiscal crisis of Southern Europe on the back of the recovering U.S. market and the increased sales in emerging countries
 
 

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