MOTIE Releases Car Sales Figures for May

The Ministry of Trade, Industry and Energy has released its car sales figures for May. The nation’s car production fell 0.9 percent year on year to 385,371 vehicles due to reduced working hours. 

The number of vehicles sold on the domestic market continued to grow thanks to the introduction of new models by domestic auto makers. Sales of imported cars posted the highest-ever monthly performance on the back of healthy sales growth for German and Japanese brands. With domestic cars’ improved competitiveness and rising demand for fuel-efficient models, exports were able to maintain the level of the previous year.