South Korea plans to push tax cuts to stimulate the auto market auto stocks have been rising

By Zou cheaponsale

Following the day before the South Korean government announced plans to introduce tax cuts to stimulate the domestic automobile market, the 13 largest South Korean car manufacturer Hyundai Motor and its subsidiary Kia Motors Corp. Shares of both rose.

According to Yonhap reported that South Korean government announced on the 12th will be "buying a new car used car" to provide tax incentives to consumers, which will make each new car is expected to decline in price of up to ₩ 2,500,000 (about 1863 U.S. dollars). The plan will be in May this year to between December.

Encouraged by, 13, Hyundai Motor and Kia Motors both company's share cost increased, increased after the two businesses had come to 5.26 per hundred and 3.71 percent.

According to market basis as saying that the Government's duty enticements in time spans of the South Korean motor vehicle producer is undoubtedly good news. Analysts will be Hyundai's in the household sales this year are looked frontwards to from the earlier 530,000 to the 580,000, while Kia's in the household sales are looked frontwards to from the earlier 327,000 to 357,000 on.

At present, the global economic downturn has made South Korean car manufacturer by combat. In March this year, the country to a total of five car sales dropped 18.7 percent over the same period last year, including Hyundai sales fell nearly 10%. - 21396

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