P.M. BRIEFING : Rise in S. Korea Home Car Sales
Domestic demand for South Korea’s passenger cars and vans is expected to outstrip exports by more than two-to-one in 1990, the Trade Ministry said today.
It said demand at home will total 880,000 vehicles, compared with 420,000 for exports. Total production by the country’s five car makers will rise to 1.3 million vehicles in 1990 from an expected 1.14 million in 1989, it added.
Ministry officials estimated cars and vans sold at home this year will increase 44.4% to 755,000, while exports will fall 34% to 380,000.
“Exports were hard hit this year because of strikes, a stronger currency and a dwindling North American market,” the report said.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
