Car sales in South Korea slowed last month by the most in almost a year as national holidays kept customers out of showrooms.
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Deliveries by domestic carmakers rose 4.9% in September, the slowest expansion since October 2009. Hyundai said its home sales fell 17%, the first decline since July. Year-ago sales were also aided by tax incentives on new cars.
Industry-wide sales for Korea’s five carmakers, including Ssangyong, GM Daewoo and Renault Samsung, were 581,630 vehicles in September.
Hyundai sold 314,355 vehicles during the month, 1.8% more than a year earlier. Sales outside Korea climbed 7.2% on demand for the revamped Sonata sedans and the new Verna model.
Affiliate Kia saw September sales rise 12% to 182,736 units, helped by the new Sportage SUV. Sales at Ssangyong increased 26% to 6,915 vehicles from a year earlier.
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By GlobalDataGM Daewoo posted a 2.9% increase to 59,462, while Renault Samsung was down 6.2% to 18,162, according to company data.
Korea ended tax incentives for customers replacing older cars with new models last December.
