Korean cars post monthly sales increase as competitors seeing drops

By Hwang Doo-hyong
WASHINGTON, Oct. 1 (Yonhap) -- South Korean automakers posted a sizable increase
in monthly sales in the United States in September as their American and Japanese
competitors suffered a major setback at the end of "Cash for Clunkers" rebates.
Hyundai Motor America reported monthly sales of 31,511 vehicles, up 27.2 percent
from a year earlier, while its sister company Kia Motor America said its
September sales climbed 24.4 percent to 21,623.
Hyundai's sales figure for the first nine months of this year was 342,217, up 1.3
percent from 337,664 a year earlier.
"We attribute the sale increase to various bonuses to buyers of Sonata sedans and
Santa Fe utility vehicles even after the termination of the Cash for Clunkers,"
an HMA spokesman said.
Hyundai has provided trade-in bonuses and a gas lock price protection program to
weather the aftermath of Cash for Clunkers, which ended in late August after a
one-month run.
A KMA spokesman said its compact car Forte and sport utility Soul contributed
greatly to the sales increase.
General Motors and Chrysler suffered a decrease of 45 percent and 42.3 percent,
respectively. Ford recorded a 5.1 percent decline.
Japanese automakers Toyota and Honda also witnessed their sales drop of 12.6
percent and 20 percent each. Nissan suffered a 7 percent decrease.
Hyundai expects a continued sales increase in the coming months, citing imminent
inroads into the world's biggest auto market by new models of Sonata and Tucson.
Helped by the Cash for Clunkers program, Hyundai and Kia recorded a combined
record sales of over 100,000 in August in the U.S. market, raising their market
share to more than 8 percent.
The combined U.S. market share of the Hyundai-Kia Automotive Group was 7.3
percent in July, up from 5.3 percent late last year.
hdh@yna.co.kr
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