South Korea’s car output down in September on reduced working days

South Korea’s automotive manufacturers produced 287,978 vehicles in September, down 12.6% year-on-year, according to the latest preliminary figures from the Korea Automobile Manufacturers Assn (Kama).

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

The decline was due to reduced working days linked to the mid-autumn festival holidays in September as well as the absence of weekend overtime work at some automotive assembly plants, Kama said.

Production for the first nine months of the year totalled 3.25 million units, down 2.1% compared with the corresponding period last year.

Domestic sales in September were down 12.6% year-on-year at 101,846 units, affected by reduced business days and supply shortage.

This put domestic sales for the first nine months of the year again in negative territory, down 0.6% over a year ago.

Exports were at their lowest monthly level this year in September at 187,405 units, down 18.9% from the same period a year ago. This was due to growing global economic uncertainty, increasing overseas production of Korean brand cars and supply shortage, Kama said.

This took total exports for the first nine months of 2013 to 2.23 million units, down 4.6% from a year earlier.

What to read next
Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
Electrolysis processes developed by Boston Metal and Electra that eliminate the need for coal in steel production could be key to a net-zero emissions future for the metallics industry, attendees learned at Fastmarkets’ conference on January 17-19 in Dallas
Low supply, strong demand to spur scrap prices higher in Feb, market says
US deep-sea ferrous export prices from the East Coast to Turkey have plateaued, with a Turkish mill purchasing a cargo at prices stable from the last-reported sale
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed