The demand for cars in July 2016 in South Korea decreased by 21.6%.
Over the last ten years is one of the strongest recessions.
In July, automakers managed to sell only 122 454 car. However, at the beginning of the year saw a trend of high demand – the Koreans bought 1 053 409 car. This figure is 4.4% higher than that of last year. This information became known from the South Korean associations of automotive manufacturers KAMA and KAIDA. Analysts believe that this trend is associated with the slowdown of China’s economy as one of the main export markets of South Korea.
The local government is in no hurry to stimulate the economy. Analysts skeptical about this decision of the government of South Korea. Leaders among the famous brands in South Korea are Hyundai and KIA. Hyundai was able to implement 48 000 cars, KIA behind him at four thousand. The two brands are able to control 70% of the home market.
