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South Korea's vehicle production fell in 2008 for the first time in seven years, manufacturers said, as the global financial crisis shrunk demand.
Production of cars, trucks and buses fell 6.4 per cent from 2007 to 3.83 million vehicles, according to statistics released by the Korea Automobile Manufacturers Association.
Production last declined in 2001. South Korea is home to five major automakers, including local industry leaders Hyundai Motor Co and its affiliate Kia Motors Corp. Hyundai and Kia together form the world's fifth-largest auto-making group.
A global economic downturn has hammered the auto industry in South Korea, Japan and elsewhere, forcing carmakers to cut staff, lower production and delay new models.
Major automakers in the US had teetered on the brink of collapse until securing a multibillion dollar government lifeline.
Domestic sales and exports also fell in 2008. Sales in South Korea fell 5.3 per cent to 1.15 million vehicles. Exports declined 5.7 per cent to 2.69 million.
Renault Samsung Motors Co was the only automaker to produce more vehicles than the year before, with output gaining 5.7 per cent.
Domestic sales declined 5.3 per cent to 1.15 million vehicles, while exports fell 5.7 per cent to 2.69 million vehicles, the association said.
GM Daewoo Auto & Technology Co, the South Korean arm of General Motors Corp of the United States, and Ssangyong Motor Co, which is majority owned by China's Shanghai Automotive Industry Corp are the country's other automakers.
