The Korean government’s stimulus package announced this week will have a significant impact on new-vehicle prices and should boost sales for all five domestic auto makers, industry insiders say. Effective May 1, the 3-tier federal tax structure on new vehicles will be reduced by 70% for the remainder of the year. To qualify for the tax break, buyers must trade in or sell an older model registered prior to Jan. 1, 2000. Government officials estimate 5.5 million vehicles fall into that ...
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