Renault Samsung Domestic March Car Sales Up 25% For Year

SEOUL March 31, 2003; Dow Jones reported that Renault Samsung Motors Corp.'s auto sales in March climbed 25% on year to 10,609 units, on the introduction of one additional model and a financing incentive program last month, the car maker said Tuesday.

Domestic sales jumped 24% to 10,560 units in March, and exports totaled 49 units compared with two cars sold a year ago, it said.

Renault Samsung Motors, Renault's Korean unit, released the SM3 sub- midsized sedan in September.

Renault Samsung Motors' March sales were also up 5.6% from a month ago, helped by its financing incentives for customers purchasing SM3 models during the month.

It cut the interest rate on installment payments on SM3 to 3% from the original 8%.

Sales of SM3 in March climbed 19% on month to 3,341 units.