Automobile Trade with South Korea and Japan

Book excerpt: In 2009, the United States, Japan and South Korea, like many industrial countries, initiated accelerated vehicle retirement (AVR) programs. Vehicles manufactured by Japanese and South Korean companies made both domestically and abroad were top performers in the U.S. AVR programs, and were also known as the "cash for clunkers" program. However, few U.S.-made vehicles were sold in comparable programs in these two countries, leading to questions about the disparity. This book examines automobile trade with South Korea and Japan, the second and fifth largest auto producing countries, in the world.