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GM Korea sales slip 4 pct on-year in 2016

All Headlines 13:55 January 02, 2017

SEOUL, Jan. 2 (Yonhap) -- GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., said Monday that its global sales dropped slightly from a year earlier in 2016 despite a sharp increase in domestic sales that reached a record high.

In 2016, the automaker sold 597,165 cars globally, down 4 percent from 621,872 vehicles sold in the previous year.

The drop was attributed to a sharp decline in exports, apparently caused by GM's withdrawal of Chevrolet vehicles from Europe two years earlier.

Outbound shipments plunged 10 percent on-year to 416,890 last year, the company said in a press release.

Domestic sales, on the other hand, spiked 13.8 percent on-year to a record high.

"GM Korea sold 180,275 cars in the domestic market in 2016, the highest annual sales figure since the company set sail in 2002," it said, adding the previous record was 158,404 sold in 2015.

In December, domestic sales came to 18,313 cars, growing 0.1 percent from the same month last year and reaching a new monthly high.

Exports again plunged 16.5 percent on-year to 35,968 cars.

bdk@yna.co.kr
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