Korea Renault Samsung Motors January Sales Up 22%

SEOUL -February 4, 2003; Dow Jones reported that Renault Samsung Motors Corp.'s January auto sales climbed 22% on year to 11,407 units, boosted by the launch of a new model, the car maker said Tuesday.

Of the cars Renault Samsung sold last month, 11,349 units were sold domestically and 58 exported, the company said in a statement. January auto sales were 0.6% higher from December.

Renault Samsung, which was set up in 2000, sells only two passenger models: the mid-sized SM5 and the compact car SM3, which was launched recently.

The auto maker sold 7,694 SM5s and 3,713 SM3s last month.

French car maker Renault is the largest shareholder of Renault Samsung, with a 70.2% stake.