Sales of imported automobiles in South Korea rose 22% on year last month due to tax incentives given as part of the government's recent economic-stimulus package, an industry association said Friday.
There were 6,809 new registrations of imported cars, up from 5,580 a year earlier, and up 28% from 5,313 in May, the Korea Automobile Importers and Distributors Association said in a statement.
The three best-selling models were Toyota Motor Corp.'s (7203.TO) Lexus ES350 sedan, Mercedes-Benz C200 sedan and BMW AG's (BMW.XE) 528 sedan, the association said.
Between January and June, however, imported-car sales fell 13% on year to 29, 025 units, it said.
Under an incentive program that began in May and scheduled to run until December, owners of vehicles more than 10 years old could save up to 70% in taxes when they buy a new car to replace their old ones.
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Tax Incentives Boost Korean June Imported Auto Sales
8:43 PM — Doncrack — Labels: 2009 Car Incentives, Asia Automotive, Best Selling Vehicle, Lexus ES350, Mercedes-Benz C200
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