Domestic Auto Sales Hit 13-Year High for Q1

      April 11, 2016 10:05

      Domestic auto sales reached 368,492 cars in the first quarter of the year, the highest first-quarter total since 2003.

      The Korea Automobile Manufacturers Association said Friday that first-quarter sales rose 6.9 percent on-year, with Kia posting the biggest increase of 11.9 percent, followed by GM Korea (9.7 percent), Ssangyong (7.2 percent) and Hyundai (3.6 percent).

      But Renault Samsung and Daewoo Bus suffered declines.

      The strong first-quarter performance was attributed to a six-month extension of tax cuts on car purchases until June, as well as a flurry of newly released models including Hyundai's EQ 900 and Ioniq, Kia's K7, Renault Samsung's SM6 and GM Korea's Spark and Impala.

      "Sales will continue to be strong in the second quarter, but could start to dwindle from the third quarter, when the tax cuts come to an end," a KAMA spokesman said.

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