Global auto market in negative territory for 12 consecutive months
- 5 years ago
The world auto market has been in negative territory for twelve months in a row its worst performance since the global financial crisis.
According to the Korea Automobile Manufacturers Association on Monday, around seven-point-two million cars were sold worldwide in August,... a three-point-nine percent decrease compared to same month last year.
Weak demand in emerging economies such as China and India was cited as the main reason for the decline.
UK-based research company LMC Automotive also estimated the total global car sales from January to August this year at 59 million,… a five-point-nine percent drop on-year.
This adds to concerns for South Korea's car industry, which relies heavily on exports.
According to the Korea Automobile Manufacturers Association on Monday, around seven-point-two million cars were sold worldwide in August,... a three-point-nine percent decrease compared to same month last year.
Weak demand in emerging economies such as China and India was cited as the main reason for the decline.
UK-based research company LMC Automotive also estimated the total global car sales from January to August this year at 59 million,… a five-point-nine percent drop on-year.
This adds to concerns for South Korea's car industry, which relies heavily on exports.