The vehicle market in South Korea has seen its best month since January 2008, according to figures released this week.

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The Korean Automobile Manufactures Association said that new vehicle registrations leapt 46.7% in May over the preceding month to 134,000. The figure was also considerably up on May of 2008, by 18.7%.


According to the Korea Herald, the number of new registrations was the best since January 2008 when 155,000 vehicles were registered.


The Korean government recently introduced a tax break for the purchase of new cars that are bought to replace cars older than 10 years. It is believed this is at the heart of the large increase in sales last month.

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