S Korea Kia Motors Sep Sales 85,581 Units; -5.6% On Year

SEOUL, October 1, 2002, Dow Jones reported that South Korea's Kia Motors Corp. said Tuesday that its overall sales fell 5.6% on year to 85,581 vehicles in September partly due to the halt in government tax cuts on cars. The country's second largest carmaker sold 34,248 units in the domestic market in the month, down 1.8% on year.

Car companies have anticipated local sales to fall from September as they no longer benefitted from a temporary sales tax cut on cars which expired at end- August.

The company's exports fell 8% on year to 51,333 units in September, largely due to a higher comparison base.

The introduction of new passenger model Optima and minivan model Carnival largely boosted overseas sales last year. A slowdown in the global economy last year also helped strengthen overseas demand for its small- and mid-size car models, the company said.

On month, its September sales fell 8.4%.