Korean Sales of Mid- to Large-Size Automobiles Surge

Backed by an improving economy, more and more Koreans are turning away from affordable compact cars and reaching out for a luxury drive. According to a report released Sunday by the Korea Automobile Manufacturers Association, sales of medium- and large-size cars surged by more than 20% in the first two months of the year, while that of mini-cars dropped by 10%.

The report shows medium- to large-size vehicles posted year-on-year expansion of 20.4% to more than 45,000 units, and 23.5% to nearly 14,000 units in the first two months of 2002. Illustrating the rebound in domestic consumption demands for large-size luxury sedans and sports utility vehicles are surpassing that of medium-size cars.

Sales of large-size vehicles jumped 12% in the January to February period, while sales of SUVs and minivans also soared 58% and 51% in February. By contrast, sales of compact cars with engines smaller than 1 liter fell 10% to some 11,000 units in the same period; their share in the local automotive market taking a nosedive to 4.6%, marking its first below 5% level since 1996.

(Arirang TV)