View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 7, 2009

SOUTH KOREA: Incentives benefit Kia

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.

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.

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%).

However, city and mid-sized segments suffered 16.4% and 3.8% sales declines.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto