Advertise On EU-Digest

Annual Advertising Rates

2/17/08

The Korea Times: Korean Auto Sales in Europe, China Slow Down - by Ryu Jin

For the complete report from The Korea Times click on this link

Korean Auto Sales in Europe, China Slow Down - by Ryu Jin

South Korean automakers showed poor performance in Europe and China last year amid fierce price competition, the latest report of an industry association showed Sunday.

European and American brands sold a total of 12.06 million cars to raise their combined market share from 81.4 to 81.6 percent year on year. Japanese carmakers also sold over 2 million, increasing the market share from 13.5 to 13.6 percent. Sales of South Korean-made cars in China also dropped from 405,011 units in 2006 to 332,573 last year, dragging down the market share from 7.8 percent to 5.3 percent. ``South Korean carmakers had a difficult time in Europe and China last year, as they lacked new models and lost competitiveness in terms of prices due to the unfavorable foreign exchange rates,’’ the KAMA official said.

No comments: