Korea Renault Samsung Motors October Sales Up 80%

SEOUL, November 1, 2002; Dow Jones reported that South Korea's Renault Samsung Motors Corp. said Friday its sales jumped 80% on year to a record monthly high of 12,456 cars in October, helped by the introduction of a new model, SM3.

Renault Samsung sold 8,256 units of mid-sized sedan SM5 in October, of which 11 units were sold overseas, the company said in a statement.

Renault Samsung launched the SM3, a compact model, in September. It sold 4,200 units in October locally, compared with 4,708 units in September. The company hasn't started selling the SM3 overseas.

France-based car maker Renault owns a 70.1% stake in Renault Samsung.