Source: Caijing.comAuthor: Zhou Dingxin27-12-2022 15:16
financial networkAuto News, Dec. 27, according to Gasgoo, data from the Korea Automobile Manufacturers Association (KAMA) showed that South Korea’s auto sales (excluding imported car sales) in 2022 are expected to be 1.39 million units, with a decrease of 2.5% from last year (1.42 million units), the lowest level since 2013. It was reported that the local sales of Korean automakers will continue to decline after 2020.
In the second half of 2022, the chip shortage in the automotive industry eased, but the global economic downturn and rising interest rates affected consumer demand. The Korea Automobile Manufacturers Association expects that as the chip supply shortage eases in the first half of next year and demand recovers, South Korea’s auto sales (excluding imported car sales) will reach 1.42 million in 2023, up 2.2% from 2022. Demand is likely to increase as new vehicles are introduced by the end of next year, it reported.
But forecast data from the Korea Automotive Technology Institute shows that domestic sales of South Korean automakers will continue to decline next year. The automotive semiconductor supply bottleneck will be resolved to some extent, but some chip companies are revising their investment plans due to the economic downturn, so it remains to be seen whether they can ramp up the production of low-cost automotive semiconductors. margin.
