HYUNDAI SAYS: Hyundai Motor Company, South Korea’s largest automaker, posted a 9.6% rise in June global sales compared to a year earlier, aided by the Korean government’s Scrappage Program, which boosted local demand.
Domestic sales rose 54.6% to 74 685 units in June from 48 301 units a year earlier. This can be attributed to the tax benefits offered by the Korean government to consumers who exchange their vehicles older than 10 years for new ones. This program was initiated in May, as part of efforts to support the struggling auto industry.
However, total overseas sales (South Africa sales included), including both exports from Korea and sales from overseas plants, fell slightly by 0.9% to 203 800 units in June, down from 205 722 units a year earlier.
Exports from Korea fell 18.4% to 83 702 units for the month compared to a year earlier, while sales from overseas plants rose 16.4% to 120 098 units.