compact cars sold January - May 2011 up 16.4 %, korean car sales

compact cars sold January - May 2011 up 16.4 %, korean car sales - The car market experiencing brisk sales of compact cars and large sedans in a way that, experts say reflects the growing income inequality in Korea. Since early this year, sales of large sedans and compact cars increased significantly, but sales of sedans small and medium enterprises have stagnated or declined. Experts say that the trigger for development has been high oil prices.

Korea Automobile Manufacturers Association said Sunday that 75,495 small cars were sold from January to May, up 16.4 percent over a year and a record from Daewoo of Korea launched its first small car, the Tico in 1991.

At the other end of the scale, the grandeur of Hyundai launched in January ahead of the market, with a total of 94,355 large sedans sold between January and May, up 32.9 percent over one year. large sedans up 18.8 percent of all cars sold, up 4.3 percentage points year after year.

But sales of small and medium cars have declined. Some 117,894 small sedans were sold between January and May, down from 121,319 years ago and reduced the market share of 24.8 percent to 23.5 percent.

AND medium-sized enterprises 97 612 sedans were sold in the same period, compared to over 20 000 119 924 the previous year. The market share decreased by 24.5 percent to 19.5 percent.

Experts blame the growing inequality of incomes. Kim Ki-chan, a professor of Business Administration at the Catholic University of Korea, he said. "Because of the high oil price, low to select compact cars and rich people who do not seem, I prefer large sedans, as well as branded products as the preferred social polarization, the polarization of the car market is likely that more worse. "

Market trends for imported cars are similar, with the luxury sedans and ranked first in sales of cars under 2,000 cc that is gaining in popularity.

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