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Hyundai Motor, the nation’s top automaker, said Sunday that pre-sale orders for its new Sonata sedan topped the 13,000 unit mark in eight business days, fanning hopes that demand for mid-sized sedans will grow in the country.
The world’s fifth-largest automaker said it has received slightly over 13,000 orders for the Sonata LF since March 5 when it started accepting pre-orders.
Hyundai said the level of interest shown by local consumers is noteworthy because the purchases are being made without the benefit of government tax breaks.
In 2009, when the outgoing Sonata YF model was unveiled, Seoul was in the process of reducing registration and acquisition taxes by up to 70 percent for people who got rid of their old vehicles with poor gas mileage for newer fuel-efficient cars.
The larger-than-expected pre-order figure indicates the country’s mid-sized auto market is likely rebounding, according to industry sources.
Last month, a total of 12,349 mid-sized sedans were sold in the country, down 12 percent from a year earlier, according to the data compiled by the Korea Automobile Manufacturers Association.
February sales accounted for 14 percent of the total auto sales, the lowest monthly tally in five years, the data showed. The portion of mid-sized sedans to total shipments has been on a sharp decline, coming in at 25.8 percent, 20.4 percent and 17.5 percent, respectively, in 2010, 2011 and 2012. (Yoonhap)
The world’s fifth-largest automaker said it has received slightly over 13,000 orders for the Sonata LF since March 5 when it started accepting pre-orders.
Hyundai said the level of interest shown by local consumers is noteworthy because the purchases are being made without the benefit of government tax breaks.
In 2009, when the outgoing Sonata YF model was unveiled, Seoul was in the process of reducing registration and acquisition taxes by up to 70 percent for people who got rid of their old vehicles with poor gas mileage for newer fuel-efficient cars.
The larger-than-expected pre-order figure indicates the country’s mid-sized auto market is likely rebounding, according to industry sources.
Last month, a total of 12,349 mid-sized sedans were sold in the country, down 12 percent from a year earlier, according to the data compiled by the Korea Automobile Manufacturers Association.
February sales accounted for 14 percent of the total auto sales, the lowest monthly tally in five years, the data showed. The portion of mid-sized sedans to total shipments has been on a sharp decline, coming in at 25.8 percent, 20.4 percent and 17.5 percent, respectively, in 2010, 2011 and 2012. (Yoonhap)
