S Korea Kia Motors August Sales Up 12.7%

SEOUL September 2, 2002- Dow Jones reported that South Korea's Kia Motors Corp. said todayMonday its August sales rose 12.7% on year to 93,465 units as a temporary sales tax cut continued to spur local demand.

Its domestic sales climbed 23% on year to 42,271 units in August, while export shipments rose 5.4% to 51,194 units.

Since November last year, the South Korean government cut the sales tax on car and other luxury goods purchases to help accelerate the domestic economic recovery. The tax cut ended at the close of August.