Car makers enjoy record 1st-half sales

Korean auto makers posted all-time high sales during the first half of this year.Hyundai Motor and Kia Motors announced that their first-half sales amounted to 8.47 trillion won and 4.8 trillion won respectively, saying that their performances were the largest ever. Daewoo Motors has failed to report its sales yet, but industry sources estimated that the figure would amount to 3.2 trillion won.

Sales among the three companies are on course to exceed a record 16 trillion won.

The Hyundai Motor figure represented a 30% increase from the same period of a year ago with the company selling 720,997 cars. Kia Motors` sales jumped 55% to 393,919 units. These car makers¡¯ sales turnover increased 40% and 70% respectively, thanks to brisk movement of midsize and large cars, as well as sports utility vehicles.Daewoo Motors saw its sale increase 9.3% to 458,885 units.

From January through June, Hyundai and Kia posted 310.4 billion won and 82.6 billion won in net profit. In particular, Kia turned to the black from last year`s 33.8 billion won deficit.