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[Monitor] Car production in Korea declines nearly 30% in January

According to the trade industry, Korea’s demand for and exports of automobiles declined in January on-year.

Car production decreased to 251,573 units last month, down 29 percent from the same month last year, due to the Lunar New Year holiday and partial strikes at some companies.

Although sales of new cars from domestic brands, including the Hyundai Sonata, Kia K5, Kia Seltos and Genesis GV80, were strong, overall sales reached 98,755 units, down 15.9 percent on-year.