Car sales in S.Korea post double-digit fall on labor strikes
Xinhua, October 4, 2016 Adjust font size:
Car sales by South Korean automakers posted a double-digit decline last month as some of car producers faced labor strikes, industry data showed on Tuesday.
Global auto sales by five carmakers, including Hyundai, Kia, GM Korea, Renault Samsung and Ssangyong, reached 693,529 units in September, down 2.1 percent from a year earlier.
Car sales in the domestic market tumbled 13.2 percent over the year to 111,159 units in September, while exports inched up 0.3 percent to 582,370 vehicles.
The drop in local car sales was mainly attributed to delayed car production, which was caused by partial strikes among workers in Hyundai Motor and its affiliate Kia Motors.
The end in June of temporary tax cut for consumption also contributed to weaker demand for cars among local consumers.
Domestic car sales by Hyundai and Kia tumbled 20 percent and 14.9 percent each in September from a year earlier. Endit