On January 9, the Korea Automobile Manufacturers Association (KAMA) stated that last year, six domestic vehicle manufacturers in South Korea, including Hyundai Motor, Kia, General Motors Korea, KG Mobility, Renault Korea, and Tata Daewoo, exported a total of 2.7826 million vehicles, a new high since 2015 (2.974114 million vehicles). However, due to multiple uncertainties this year, a downward trend in automotive exports is expected. KAMA predicts that this year, the export volume of domestic vehicle manufacturers in South Korea may drop to 2.7 million vehicles, a year-on-year decrease of 3.1%. The slowdown in global economic growth, the deteriorating international trade environment, and the potential policy proposals for the reintroduction of universal tariffs by a future Trump administration all contribute to the uncertainty in export prospects.
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韩国六大车企去年出口创9年新高,今年或因多重因素迎下降拐点
Last year, the six major automotive companies in South Korea achieved the highest export levels in nine years, but this year it may see a downturn due to multiple factors.
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