Carmakers Take A Break In May

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A scrappage tax break introduced by the South Korean government on May 1 is already having a favourable impact on car sales. According to data provided by the country's five domestic carmakers, sales for the first three weeks of the month are already 30% higher than the period in April. This is despite business in the first four days of the month being lost to a holiday period. Based on sales so far, carmakers are expecting sales for the whole month to be 25% higher than in the previous