S. Korean auto production to drop

SEOUL, Dec. 16 (UPI) -- South Korean automakers, faced with a slump, said Tuesday they expect production next year to total 3.6 million vehicles, down 6.5 percent from this year.

The auto industry group said output this year is estimated at 3.85 million vehicles, Yonhap news agency reported.

The Korea Automobile Manufacturers Association projected next year's domestic sales at 1.05 million units, down 8.7 percent from 2008.

Exports next year are projected at 2.55 million units for a total of about $46.5 billion, down 5.6 percent from this year's estimate of 2.7 million, worth $50.2 billion, the report said.

Sales of imported cars in South Korea next year are estimated at 70,000 units, down 6.7 percent from this year.