South Korea’s Vehicle Production Dropped 1.3% to 3.46 Million Units in 2021

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South Korea vehicle production semiconductor shortage production decline passenger vehicles commercial vehicles CBU exports Hyundai Kia GM Korea Renault Samsung SsangYong Tata Daewoo Daewoo Bus decrease in demand domestic demand overseas demand South Korea's production / sales / export / import volume of automobiles comparison of 2021 South Korean automobile production results against 2019 and 2020 KAMA (Korea Automobile Manufacturers Association) KAIDA (Korea Automobile Importers & Distributors Association) total production production volume of South Korean automobiles by type and class (2016-2021) pickup truck passenger car minivan SUV truck bus mini small medium semi-large large maximum payload engine displacement comparison of 2021 production results of the top five South Korean automakers against 2019 and 2020 top 20 vehicle models by production volume (2021) Avante Bongo Carnival Grandeur K5 Kona Morning Niro Palisade Porter Santa Fe Seltos Sonata Sorento Soul Sportage Stonic Trailblazer Tucson XM3 production volume of Korean automobiles by automaker, type and model (2016-2021) Accent Actyon Aslan Aveo/Gentra Bus Capitva/Winstorm Carens Casper Chairman County Cruze/Lacetti (sedan) Damas (incl. van) EV6 Genesis Genesis Coupe Genesis EQ900/G90 Genesis G70 Genesis G80 Genesis GV60 Genesis GV70 Genesis GV80 Grand Starex i30 i40 (sedan / station wagon) Ioniq Ioniq5 K3 K7 K9 Korando C Rexton Korando Sports Korando Turismo Labo Malibu Maxcruz Medium / large buses (BS, FX, etc.) Medium / large trucks (4.5t and above) Medium trucks (3.5t) Mighty Mohave Nexo Nissan Rogue (for export) Orlando Passenger car Pride K8 QM5 QM6 Ray Rexton Sports Silkroad SM3 SM5 SM6 SM7 Spark/Matiz (incl. van) SPV Staria Stinger Tivoli Trax Truck Twizy Universe Veloster Venue

South Korea's vehicle production fell 1.3% year-on-year to 3,462,499 units in 2021, going down for the third consecutive year. Insufficient supply of semiconductors was the primary reason for declining production. South Korea’s passenger vehicle production dropped 1.5% to 3,162,850 units, while commercial vehicle production inched up 1.6% to 299,649 units. Hyundai and Kia increased production thanks to the gradual recovery of CBU exports. In contrast South Korea’s third largest automaker GM Korea dropped 37% due to poor domestic and overseas demand.