(MENAFN) The data compiled by the Korea Automobile Manufacturers Association (KAMA) revealed that the number of cars recently registered in South Korea declined in the past year from 2015.
Moreover, the data also posted modern vehicle registrations have reached 1.82 million units in 2016, reduced by 0.6% compared with a year earlier.
Never the less, industry watchers stated the fall came as South Koreans in their 30s and 40s were less motivated to purchase new cars.
The data further added the number of cars newly sold by those in their 30s and 40s down 3.2% and 2.4% on-year, respectively.
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