South Korea's car production fell for the ninth consecutive year
Economy News - Baghdad
South Korea's auto production is expected to continue to decline for the ninth consecutive year in 2019 as domestic and global sales continue to fall, falling to less than 4 million units for the first time since 2009, data released by South Korea's Yonhap news agency showed.
Consolidated sales of carmakers in South Korea in the first 10 months of this year reached 3.24 million units, down 0.7 percent from the same period a year earlier, according to the Korea Automobile Manufacturers Association.
The figure is the lowest since 2009 when sales reached 79.2 million units in the wake of the global financial crisis.
The sector's exports fell 0.3% year-on-year to 1.99 million units during the period, while domestic sales fell 1.2% to 1.25 million units.