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Lowest auto output in a decade expected in 2019

Nov 11,2019
Korea’s automobile output is widely expected to reach a nine-year low this year on sluggish sales at home and abroad, dipping to below 4 million units for the first time since 2009, data showed Sunday.

In the first 10 months of the year, the combined sales of automakers here came to 3.24 million units, down 0.7 percent from the same period last year, according to the data from the Korea Automobile Manufacturers Association.

The figure is the lowest since 2009, when the number stood at 2.79 million units in the aftermath of the global financial crisis.

Exports slipped 0.3 percent on year to about 1.99 million cars over the cited period, while domestic sales dipped 1.2 percent.

Amid sluggish sales, the country’s overall output of automobiles dropped 0.4 percent on year to a little over 3.26 million units in the January-October period, the lowest since 2009.