Published : Dec. 29, 2019 - 11:19
South Korea's auto market is expected to grow 1.2 percent next year, turning around from this year's estimated 3.6 percent contraction, a report showed Sunday.
According to the report compiled by Hyundai Motor Group, the country's auto market is expected to reach some 1.77 million units next year, following this year's estimated 1.75 million units.
The report said the United States, the world's largest auto market, will suffer a drop in auto sales for the second consecutive year, while China will see a 3.9 percent rise in auto sales, a rebound after three years of decline.
(Yonhap)
Overall, global auto sales will reach 87.3 million units next year, compared with this year's estimated 86.95 million, it said.
This year, the world's auto market is expected to decline 5 percent, before increasing 0.4 percent next year, it added.
Meanwhile, the won-dollar rate will average 1,180 next year, compared with this year's average 1,175.
Oil prices, measured by the West Texas Intermediate, will trade at $56 per barrel next year, slightly lower than this year's $59 per barrel, according to the report. (Yonhap)