South Korea’s Car Production Drops 7%

South Korea’s output of passenger vehicles fell 7% in 2016 to a six-year low of about 4.23 million vehicles, the Korean Automobile Manufacturers Assn. reports.

The trade group attributes the decline to a cooling economy, disruptions caused by strikes and slumping export volume. KAMA notes that output by Korean carmakers outside the country grew 6% to 4.65 million units in 2016, marking the first time foreign production surpassed domestic output.

Vehicle manufacturing overseas has doubled in less than a decade, according to The Korea Herald.