|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Wednesday 24th of February 2010
February 23, 2010    

Car production surges in South Korea

Bookmark and Share

by Kay Murchie
”Car

According to the Korea Automobile Manufacturers Association (KAMA), South Korea’s share of the global car market grew to an all-time high of 5.7% in 2009.

The KAMA said South Korea produced a total of 3.513 million vehicles last year - 5.7% of the 61.295 million total worldwide.

As a result, the country retained its ranking as the world’s fifth biggest carmaker in terms of domestically produced vehicles.

Overseas production by Korean firms Hyundai, Kia and GM Daewoo were not included in the total.

In related news, China surpassed the US in 2009 and, as a result, became the world’s largest car and van market.

Last month, the China Association of Automobile Manufacturers said 13.6 million vehicles were sold within the country in 2009, compared with annual sales of 10.4 million cars and light trucks sold in the US.

China has never produced more than 10 million cars in one year before. Only the US and Japan (the world’s number one and two economies) have produced 10 million cars in a single year.

Discuss this in the Finance Markets forums

Story link: Car production surges in South Korea




Related financial stories to: Car production surges in South Korea:
Previous: « Growing number of resignations among managers
Next: Fixed-rate mortgage comes of age »

Visited 450 times, 54 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: car market, , , KAMA, Korea Automobile Manufacturers Association, , , ,