Kia has benefited the most from government tax incentives estimated to have prompted the purchase of 40% of the 387,000 vehicles sold in Korea between May and July.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Its sales in the period jumped 49.2% year on year in the same period.
Renault Samsung sales rose 37.7% while Kia parent Hyundai saw its sales increase by 27.6%, the Korea Herald reported.
In contrast, Ssangyong’s sales dropped 72.6% due to the 77-day sit in while GM Daewoo’s sales declined 29%.
By segment, sport utility vehicle sales benefited the most (+99.7%), followed by compact cars (+56.5%) and large cars (+42.6%).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataHowever, city and mid-sized segments suffered 16.4% and 3.8% sales declines.
