South Korean vehicle output declines 16.2% y/y in September

September output lowest since August last year

South Korea's largest carmaker, Hyundai, and four other automakers in the country produced a combined 287,978 vehicles in September, down 16.2% year on year (y/y), according to data released by the Ministry of Trade, Industry, and Energy. Hyundai's output dropped 22.6% y/y to 115,106 units in September, while that of sister company Kia fell 18.6% y/y to 90,511 units. Output levels at General Motors' (GM) local unit, GM Korea, declined 5% y/y, while production at Renault Samsung Motors fell 17% y/y last month. SsangYong Motor, owned by India's Mahindra & Mahindra (M&M), saw its production edge up 2.4% y/y.