[THE INVESTOR] Vehicles produced overseas and sold here by local automakers dropped sharply from a year earlier last month amid advances by their local competitors, industry data showed Aug 8.
In July, Renault Samsung Motors sold 1,066 units of the QM3 crossover SUV, down 55.5 percent from the same month last year, according to the data.
QM3 cars are imported to South Korea after being produced overseas through the original equipment manufacturing arrangement.
The July tally also marks a 12.2 percent drop from the previous month.
Sales of the Chevrolet Impala, another major OEM vehicle sold here by GM Korea also tumbled 52 percent on-year to 542 in July.
The sharp drop was partly attributed to the termination of a temporary tax cut on new cars, which also led to a 10.6 percent on-year decline in combined sales of five automakers here.
They include industry leader Hyundai Motor, its smaller affiliate Kia Motors, and Ssangyong Motor.
