South Korea's automobile production, domestic sales and exports all fell year-on-year in November

According to Yonhap News Agency reported on the 19th, due to the lack of automotive chips leading to the reduction in production of some vehicle manufacturers, South Korea's automobile production, domestic sales and export scale in November this year all fell year-on-year.

Vehicle production in South Korea in November decreased 6.6 percent to approximately 303,000 units; local vehicle sales in November fell 16 percent y/y to about 144,000 units; and november vehicle exports fell 4.7 percent to about 179,000 units.

However, South Korea's auto exports rose 3.3 percent year-on-year to $4.12 billion in November, the highest level since April.

Some analysts pointed out that this is due to the record export of new energy vehicles belonging to high value-added models.

The latest statistics show that since the beginning of this year, the cumulative export volume of new energy vehicles in South Korea has exceeded 10 billion US dollars (about 63.7 billion yuan) for the first time.