Sales According to the Korea Automobile Manufacturers Association (KAMA), July domestic auto sales came in at 125,689 units, up 2.9% year-on-year (y-o-y). Sales for the first seven months of the year declined 1.8% yo- y, to 802,596 units. Our 2013 sales growth forecast of -1.2%, to 1.4mn units, is well-placed and we are happy to maintain it for now. Although sales enjoyed a marginal uptick in July, y-o-y growth rates since the start of the year have been mostly negative. While the recent pickup in sales was likely due to the upturn in private consumption which the Korean economy is …
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