MOSCOW (Sputnik) — South Korea produced 2.55 million cars in total between January and July 2016, 20,000 vehicles below India's figure of 2.57 million for the same period, The Korea Herald newspaper reported, citing data from the Korea Automobile Manufacturers Association (KAMA).
With final annual output figures still a long way off, manufacturers fear a continued setback from fifth place as the country's auto industry suffers from labor unrest and increasing taxes, according to the publication.
Earlier in September, figures suggested South Korea's domestic and export car sales hit a seven-year low of just over 250,000 in August. The figures followed strikes by workers at Hyundai and Kia throughout the summer. Unions demanded bigger wage increases, while a temporary tax cut on new car purchases was canceled in late July.
The world's top four car producers are China, the United States, Japan and Germany. Germany's Volkswagen became the global leader in car sales in April this year.
