South Korea October Auto Imports - Up to 1363- Yup Thats It!

SEOUL -November 5, 2002; Dow Jones reported that sales of imported cars in South Korea continued their three-digit on-year growth in October even after a consumption tax cut on car purchases ended in August, according to a report by the Korea Automobile Importers & Distributors Association, or Kaida, on Tuesday.

Sales of imported cars more than doubled to 1,363 units in October this year compared with 639 a year earlier, Kaida said.

However, October sales softened 11% from September, partly because there wasn't enough inventory of foreign car brands after the strong demand caused by the tax cuts earlier this year, the Kaida said.

During the first ten months, sales of imported cars in South Korea more than doubled to 13,354 units from 6,376 a year ago.

In October, BMW (G.BMW) sold the highest number of imported cars in South Korea, with 4,117 units.

Toyota Motor Corp.'s Lexus ES300 was the best selling model, with 181 units sold in October, Kaida said.