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S. Korea maintains 5th place for auto production spurred on by eco-friendly car sales Updated: 2022-01-19 04:54:01 KST

For the second year in a row South Korea held on to its number five spot in the world for global automobile production.
According to the Korea Automobile Manufacturers Association South Korean automobile companies produced 3.46 million cars in 2021.
That's down slightly by 1.3 percent from the year before but the global auto industry has been hit hard by chip shortages as well as the prolonged COVID-19 pandemic.
Ahead of South Korea in the rankings, making up the top four are China, the U.S., Japan, and India.

"Although we have previously ranked 5th India and Mexico rose in the rankings pushing South Korea down to 7th. However, the world has been struggling due to COVID-19, while South Korea responded well in terms of virus prevention and were able to take back 5th place."

One of the driving forces behind the result is South Korean industry giant Hyundai Motor Group which actually made 5.3 percent more cars last year than it did in 2020 despite most other major automakers seeing a fall in production.
The company has also ranked third for global market share in 2021 maintaining the company's upward trend.
As for auto exports there were rises in both the number of cars sold as well as sales.
South Korean companies exported more than 2 million cars collecting 24.2 percent more in sales compared to the year before.
Industry stats show that this is backed by the rise in sales of eco-friendly cars especially hybrid engines.
For the fourth year in a row the number of exported eco-friendly cars broke all time annual records even seeing a 50-PERCENT increase on-year in 2021.
Now around a fifth of all South Korean auto exports are eco-friendly cars.'
Industry experts, as well as automakers, expect the recovery phase to continue this year and by 2023, things may get back to pre-pandemic levels.
Kim Do-yeon, Arirang News.
Reporter : tkim@arirang.com
KOGL : Korea Open Government License
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