SHANGHAI February 3rd, 2017 ZXZC – Korea Automobile Manufacturers Association (KAMA)'s reported last year that, vehicle export of Korea in 2016 would decline for the second year, because strikes of the main Korean automakers interrupted the production, as well as because of the influence from the recession of global economy. In addition, the emission scandal of VW added to the shrink of Korea's vehicle import.

According to Korea International Trade Association (KITA), the gross vehicle export of Korea in the first 11 months of 2016 was 36,070 million dollars, decreased 13% comparing with 41,430 million dollars of the same period of 2015. It was predicted that, the gross car export of the whole 2016 of Korea would be 40000 million dollars if the trend continued, far less than the 45,800 million dollars of 2015. This would be the first time for Korean car export to decline for two successive years since the break of economic crisis in 2008 to 2009.

Up to October 2016, vehicle export of Korea have encountered a successive slump for 12 months. At the meantime, a series of strikes of Hyundai and Kia ---- Korea's two biggest automakers interrupted the production. The strikes stopped not until October and November.

During January to November of 2016, imported car sales of Korea was 205162 units, a year-on-year slide of 6.5%. But the gross car import of Korea increased in 2016 due to the sales growth of high-range imported vehicles. During the first 11 months of 2016, the gross car import of Korea increased 3.2% year over year to 8,920 million dollars.

Because of the end of Korea’s tax reduction and exemption policies for passenger cars in June 2016 as well as the effect from VW's emission scandal, sales of Audi and VW in Korea decreased 44% and 60% to 16,482 units and 13,178 units respectively.

Predicted by a car import and trade association of Korea, sales of Korea’s imported cars this year would increase 4%. According to Korea Automobile Importers and Distributors (KAIDA), car sales of foreign automakers in Korea this year would be around 238 thousand units.