As prices at the pump rise, tiny cars known as subcompacts have grown ever more popular in Korea. Through April this year, Kia Motors has sold over 33,000 units of the Morning (Picanto). That’s a growth of 300 percent from the same period last year. Kia says the fuel-efficient subcompact car has been so popular that it has over 32,000 units on back order, meaning a wait of up to six months for many buyers.
GM Daewoo’s Matiz has also seen a steady rise in sales with more than 5,000 of the cars sold since March and another 5,000 on back order. The two models are currently the only subcompacts made by Korean automakers for domestic sale, putting demand far above supply.
[Source: Chosun Ilbo]
Wednesday, May 28, 2008
Korea: Six months waiting list for Kia Morning
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