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Recreational vehicle sales hit 14-year high

All News 09:32 July 19, 2016

SEOUL, July 19 (Yonhap) -- The sales of recreational vehicles, such as SUVs and minivans in South Korea, reached a 14-year high in the first half of the year, driven by rising demand for such vehicles and diversified models, industry data showed Tuesday.

According to the data, the country's five automakers, including Hyundai Motor Co. and Kia Motors Corp., sold a total of 271,523 recreational vehicles in the January-June period, up 8.7 percent from a year earlier. The first-half figure marks the highest since the 266,018 units sold in the first half of 2002.

The best-selling RV was the Sorento by Kia Motors with 43,912 units, followed by the Santa Fe by Hyundai Motor with 41,178 units and the Carnival minivan by Kia Motors with 32,038 units and the Tuscan with 31,741 units, according to the data.

Market experts say demand for RVs and minivans will continue to rise down the road on the back of consumers' rising preference, and carmakers are moving to unveil more fuel-efficient, diesel-powered models.

In particular, local automakers have released a series of fashionable, fuel-efficient models to grab a bigger chunk of the compact SUV market.

Experts said compact SUVs have lured younger customers who prefer fuel-efficient models with affordable price tags over larger SUVs, expecting the trend to continue down the road.

sam@yna.co.kr
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