The decline in automobile production in November was significantly smaller than in September and October, indicating a slight alleviation of the shortage of semiconductors for automobiles.

According to the Ministry of Trade, Industry and Energy, the automobile industry's performance in November 2021 was 302,983 units, a 14.9% increase from the previous month and a 6.6% decrease from the same month last year.

In particular, despite the continued supply and demand difficulties in automotive semiconductors, exports recorded $4.12 billion, a 3.3% increase year-on-year, demonstrating a positive trend that surpassed the base effect.

Automotive production increased 14.9% month-on-month, driven by an easing of supply and demand disruptions for automotive semiconductors. While production declined by double digits in September and October due to semiconductor supply disruptions, the impact of the disruptions eased in November, and efforts to recover from the disruptions significantly reduced the decline.

Looking at the monthly production decline rates, they were -33.0% in September, -21.6% in October, and -6.6% in November.

In November, auto parts exports decreased by 2.2% year-on-year to $1.84 billion, as exports to major regions such as the U.S. and China declined due to the continued shortage of automotive semiconductors.