South Korea's Feb vehicle output rises 38% on year

摘要

Singapore—South Korea manufactured 260,958 vehicles in February, up 37.9% year on year, but down from 314,190 units in January, data from the Ministry of Trade, Industry and Energy showed March 15. The reduction in vehicle in February compared with from January is seen affecting demand for automotive steel. The annual jump was due to a lower base as February 2020 saw vehicle production partially affected by the COVID-19 pandemic, while the monthly slowdown was likely due to a shorter working month and a global shortage of automotive semiconductor chips.