Local Auto Market
Korean automakers’ domestic sales increased by more than 15 percent in Sept., in spite of the fewer number of business days in the Korean thanksgiving, or Chuseok, holiday season, thanks to the Korean government’s policy for individual consumption tax reduction.
According to industry sources, the carmakers sold a total of 128,067 cars in Korea last month, up 15.7 percent from a year ago. Hyundai Motor Company recorded an 8.7 percent increase to 51,954, and Kia Motors sold 45,010 cars by showing a rate of increase of 16.5 percent. Ssangyong Motors’ sales soared by 59.1 percent to 8,106, while Renault Samsung Motors added 10.9 percent to reach 6,604. GM Korea sold 16,393 cars, the highest level this year, with the monthly sales rising 24 percent.
The Hyundai Avante was bought by 8,583 consumers to become the best seller for the second consecutive month. The GM Impala recorded a sales volume of 1,634, and the Tivoli of Ssangyong Motors recorded over 5,000 in domestic and overseas sales for six months in a row. The sales volume of the SM7 of Renault Samsung Motors hiked by no less than 47.6 percent to 996, led by the successful debut of the LPG model.
In the meantime, Hyundai, Renault Samsung, and GM Korea increased their exports and overseas sales during the same period, whereas the volumes fell by 4.3 percent and 35.5 percent for Kia and Ssangyong.