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Domestic Car Sales: Alternation of Joy and Sorrow

Posted May. 07, 2001 09:05,   


Car market shows a clear contrast between imported cars and Korean cars. Korean car sales,

Korean car sales is increasing explosively while imported car sales, having been in steadfast increase thus far, stumbles.

On 7th, according to motor company sources, imported car sales in April marked the biggest downfall since last November.

Imported car sales had showed a solid rising curve since last November. But in April while decreasing demand on imported cars, its sales fell down 15.4percent to 559 units from 661 units in March.

But, in contrast to the downturn of imported car sales, 5 domestic motor companies such as Hyundai, Kia, Renault Samsung and Ssangyong, have marked a steadfast rising-up since last February.

The Poor Get Poorer, The Rich Get Richer Among Car Importers:

Yoon, Dae-Sung, managing director of Korea Automobile Importers & Distributors Association, analyzed that a rising curve of imported car sales stopped, because active marketing strategies worked well while the release of new models of imported cars were not noticeable.

BMW Korea is leading the other importers, by selling 219 units breakthrough 200 units in March and recording sales of 230 units in April. But in stark contrast, many importer companies sold just 10 to 20 vehicles last month, so that the poor were getting poorer and the rich were getting richer.

Good Seller: Korean cars

The domestic sales of Korean car companies increased to 127,336 units by 2.8percent over 123,855 units in March, marking increase for three consecutive months since last February.

Chun Hyun-chan, vice chairman of Hyundai Motor Company, analyzed that the domestic sales of Korean cars increase because newly released models have received much concern from customers, and automobile companies have employed various marketing strategies such as installment plan without co-signer Hyundai Motor Company achieved the best sales record by month, increased 63,368 vehicles by 2.8percent over 61,644 vehicles in March.