Some 630,000 vehicles produced in five months
Local carmakers produced a total of 625,946 vehicles in the first five months of the year, marking a 12 percent decline from the same period of 2018, data from the Automotive Manufacturers’ Association (OSD) showed.
The country’s passenger car output declined 11 percent in January-May on an annual basis to 418,626 units, according to the association.
A total of 156,990 vehicles were sold during the first five months, a 50-percent contraction from a year earlier with passenger car sales falling 49 percent on an annual basis to 120,354 units.
The association also reported that local carmakers shipped 537,889 vehicles to foreign countries in January-May, which corresponded to 86 percent of total output. According to OSD data, 356,200 passenger cars were exported in the first five months of 2019.
The country’s overall auto exports exhibited a 7 percent decline while passenger car exports fell 9 percent in January-May from a year earlier.
In terms of value, local carmakers’ exports dropped 6 percent on an annual basis to $13.4 billion.
Last year, the country manufactured a total of 1.55 million vehicles, down from 1.7 million units produced in 2017.
Passenger car output declined 10.2 percent last year from 2017 to stand at 1.03 million units.
The auto industry’s exports jumped 10.8 percent to $32.2 billion while passenger cars exports rose 5.3 percent to $12.4 billion in 2018.