Why did South Korea’s auto exports fall in August?

The Ministry of Trade, Industry and Resources said fewer working days during summer holidays and production losses from strikes at some carmakers weighed on exports. Those factors helped push auto shipments down 29.8 percent from a year earlier.

How much were South Korea’s auto exports worth in August 2026?

The combined value of automobile shipments came to $3.85 billion in August, down from $5.49 billion a year earlier. The number of exported vehicles also fell to 146,000 units.

What happened to domestic car sales and production in August?

Domestic vehicle sales totaled 110,000 units, down 20.8 percent from a year earlier. Locally produced vehicles fell 35.8 percent to 206,000, while the ministry said exports and production should improve later this year as major carmakers have reached wage agreements.

Auto exports drop 29.8% in Aug. on fewer working days, strikes

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Summary

Korea’s auto exports plunged 29.8 percent in August to $3.85 billion, the Ministry of Trade, Industry and Resources said Thursday. Fewer working days during summer holidays and production disruptions from strikes at some carmakers weighed on shipments. Exports fell in all major regions, while the ministry said vehicle exports and production are expected to improve later this year as major carmakers have reached wage agreements.

Key Facts

The value of automobile shipments fell from $5.49 billion a year earlier to $3.85 billion in August.
Exports to North America dropped 28.2 percent to $1.84 billion, and shipments to the European Union fell 16.8 percent to $659 million.
Exports to Asia plunged 41.9 percent to $343 million, while exports to the Middle East dropped 23.6 percent to $234 million.
The number of vehicles exported declined 26.9 percent on-year to 146,000 units last month.
Domestic vehicle sales fell 20.8 percent to 110,000 units, and locally produced vehicles declined 35.8 percent to 206,000.

By Yonhap

Published Sep 17, 2026 11:13 am KST

Vehicles are lined up for export at a port in Pyeongtaek, Gyeonggi Province, Feb. 22. Yonhap

Korea's auto exports plunged 29.8 percent in August from a year earlier due to fewer working days and production disruptions caused by strikes, data showed Thursday.

The combined value of automobile shipments fell to $3.85 billion last month from $5.49 billion a year earlier, the Ministry of Trade, Industry and Resources said in a press release.

"Fewer working days due to summer holidays and production losses stemming from strikes at some carmakers weighed on exports," it said.

By region, exports to North America and the European Union contracted 28.2 percent and 16.8 percent, respectively, to $1.84 billion and $659 million.

Exports to Asia and the Middle East plunged 41.9 percent and 23.6 percent, respectively, to $343 million and $234 million.

The number of vehicles exported also decreased 26.9 percent on-year to 146,000 units last month, the ministry said.

Domestically, 110,000 vehicles were sold last month, down 20.8 percent from a year earlier. The number of locally produced vehicles declined 35.8 percent to 206,000.

Six out of 10 vehicles sold in the domestic market were all-electric, gasoline-hybrid or other eco-friendly models.

The ministry expected vehicle exports and production to improve later this year as major carmakers have reached wage agreements.

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