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Sunday, 2 October 2016

Korea - auto exports fail to make top 3 for first time in 12 years: ARIRANG NEWS

Published on Oct 2, 2016
한국 자동차 수출 12년만에 '빅3' 탈락
Korea has lost its spot as the world's number-3 exporter of automobiles.
That title now belongs to Mexico.

According to the Korea Automobile Manufacturers Association,... Hyundai Motor, Kia Motors, GM Korea and other local manufacturers shipped 1-point-6-9 million cars over the January-to-August period.
That's down more than 14 percent from a year earlier.

In contrast, Mexico's decline in that category was only 2-point-7 percent,... allowing it to cruise past Korea with more than 1-point-8 million units.

Key factors that pulled us down one notch from the spot we first clinched in 2005... include overall weak demand from emerging markets... after expanding overseas production facilities... and domestic labor strikes.
Germany is still the top exporter at 2-point-9-4 million units, trailed by Japan.

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