Production of 4.5 Million Cars
South Korea's automobile production maintained fifth place among the world's carmaker countries for ten years in a row last year by producing 4.52 million vehicles.
As a result of analyzing documents on last year's world automobile production (overseas production is categorized as that of the local country) by the Korea Automobile Manufacturers Association (KAMA) on Feb. 3, South Korean automobile production ranked fifth in the world for 10 consecutive years by making 4.52 million vehicles, and accounted for 5.0 percent of the world's automobile production quantity. This is due to an increased production resulting from domestic demand expansion even though there is a decrease in exports because of the low yen.
According to KAMA, China won first place in the world for six consecutive years by producing 23.72 million units (26.3 percent of world production), a 7.3 percent increase from the previous year, despite slow domestic demand.
The U.S. ranked second with 11.65 million units, 5.3 percent more than a year ago, brought about by the improvement of consumer sentiment due to economic recovery and a drop in the unemployment rate, and increased demand due to low oil prices.
Japan maintained third place with 9.77 million units, increasing 1.5 percent from the previous year due to the pre-demand before the rise of the consumption tax and the increasing sales of small cars. Germany ranked fourth with 5.93 million units, 0.9 percent from a year ago due to domestic recovery and rise in exports. Finally, India ranked sixth, Mexico seventh, Brazil eighth, Spain ninth, and Canada ranked tenth.