S. Korea's Feb. auto output sinks 15.2 pct

SEOUL, March 5 (Yonhap) -- South Korea's vehicle production skidded 15.2 percent
in February as a global recession ravaged demand, an industry group said
Thursday.
Production of cars, trucks and buses dropped to 237,356 vehicles last month,
marking the ninth consecutive monthly decline, according to statistics released
by the Korea Automobile Manufacturers Association.
But, the pace of output slump showed signs of easing. In January this year,
production plunged 48.4 percent from the same month last year.
Nevertheless, the association saw little signs of any early recovery in overseas
demand.
"Exports will likely to remain sluggish for some time to come," the industry
group said in a statement.
Walloped by slumping sales and tight credit, South Korean automakers, led by
Hyundai Motor Co. and its affiliate Kia Motors Corp., have been cutting working
hours and idling some production lines.
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