BMI Remains Firm On South Korean Forecast

Following the almost traditional summer strike in the South Korean automotive industry in 2006, sales rallied in the latter part of the year and have maintained the upward momentum in Q107, according to BMI's recently published South Korea Automotives Report. Sales for the first quarter of 2007 are up 6.1% y-o-y, within which the passenger segment registered growth of 9%. The commercial segment suffered, however, with sales of trucks and buses falling by 7.7% and 0.7% respectively. The report goes on to explain that although the first quarter sales are less than an average quarter of BMI's full-year forecast of

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