Auto Sector Rebounds in October
13 November, 2018
Auto manufacturers rebounded slightly last month after a prolonged slump. According to the Ministry of Trade, Industry and Energy on Monday, their industrial output in October increased by 36 percent on-year to a record high of some 381,600 cars.
Their exports climbed by more than 32 percent on-year as demand soared, especially in North America and Europe. Domestic sales jumped nearly 24 percent thanks to increased sales of hydrogen-fueled vehicles, EVs and hybrids.
Exports of auto components also increased by nearly 37 percent.
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