Foreign media: South Korea's automobile production and domestic sales in 2021 fell year-on-year

According to Yonhap News Agency, a statistical data released by the Ministry of Industry, Trade and Resources of South Korea on the 18th shows that in 2021, South Korea's automobile production and domestic sales both fell year-on-year, and exports increased year-on-year.

Last year, South Korea's automobile production decreased by 1.3% year-on-year to 3.46 million units; domestic sales decreased by 8.5% year-on-year to 1.73 million units; and exports increased by 8.6% to 2.05 million units, the data showed.

According to the report, the decrease in south Korean automobile production last year was mainly due to the long-term covid-19 epidemic and the shortage of automotive chips. The decrease in domestic sales in the same period was mainly due to the shortage of automotive chips and the base effect of a record high in sales in 2020. Specifically, domestic vehicle sales in South Korea decreased by 10.4% year-on-year to 1.429 million units, while imported vehicle sales in South Korea increased by 2% to 297,000 units.

Contrary to the decline in production and domestic sales, South Korea's automobile exports increased by 8.6% to 2.05 million units last year, and exports increased by 24.2% year-on-year to $46.47 billion.

In December, South Korea's automobile production increased by 7.5% month-on-month to 319,100 units; domestic sales decreased by 6.2% year-on-year to 153,700 units; exports increased by 9.8% to 191,800 units; and exports increased by 17.3% to USD 4.23 billion. (Zhongxin Jingwei APP)