Just In
- 37 min ago Tata Motors Teams Up with Hindustan Petroleum to Expand India's EV Charging Infrastructure
- 2 hrs ago Explore Top Alternatives To KTM 125 Duke For Motorcycle Enthusiasts In India
- 14 hrs ago Xiaomi SU7 Electric Car Launched – May End Apple Inc.
- 16 hrs ago India's Leading Car Exports in February 2024: A Comprehensive Overview
Don't Miss!
- Movies Crew Box Office Collection: Hit or Flop, Budget; Everything To Know About Kareena, Kriti & Tabu’s Heist Comedy
- News Congress Chief Mallikarjun Kharge Launches Counter Attack On PM Modi With These Four Questions
- Finance RBI Declares Temporary Unavailability Of Exchange/Deposit Of Rs 2,000 Banknotes
- Lifestyle April Fool's Day 2024: Strange And Unusual Pranks That Were Pulled Off On 1st April
- Technology Elon Musk Announces Free Premium Features for Select X Users - Get All the Details Here
- Sports Sanju Samson's tactic leaves Ricky Ponting and Sourav Ganguly fuming during RR vs DC IPL 2024 Match 9
- Education RSMSSB Junior Instructor Recruitment 2024; Apply online for 2500 Posts, Check out for more details
- Travel Explore Tamil Nadu's Diverse Wedding Venues
India Emerges As 5th Largest Car Maker In The World 2016; Beats South Korea
As per Korea Automobile Manufacturing Association (KAMA), South Korea has produced 2.55 million cars for the period of January to July 2016. While India produced 2.57 million units for the same period beating South Korea by 20,000 units.
This change in ranking comes after a decade when South Korea maintained the position, now India has pipped it to the spot. A KAMA spokesperson said that the reason is because the demand for cars is increasing steadily in India which is attributed to the economic growth; however, South Korea is experiencing dull domestic consumption and exports.
South Korea could further be beaten by Mexico as Korea's Kia has set up manufacturing plants there. With auto industry hit by strikes and increasing taxes, South Korea has been witnessing downward sales. Strikes were announced over wage increases and the auto industry has been hit by temporary tax cuts on new car purchases.
Currently, the world's leading car makers is led by China, then the United States, Japan and Germany, and South Korea usually rounds off the top five; however, India has beaten it this year.