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GM Korea's July sales fall 11 pct on weaker demand

All News 14:25 August 01, 2018

SEOUL, Aug. 1 (Yonhap) -- GM Korea Co., the South Korean unit of General Motors Co., said Wednesday its July sales fell 11 percent from a year earlier driven by weaker demand.

GM Korea sold 37,046 vehicles last month, down from 41,406 units a year earlier, as local and overseas demand weakened further, the company said in a statement.

Domestic sales plunged 17 percent to 9,000 units last month from 10,801 a year ago. Exports declined 8.4 percent to 28,046 from 30,605 during the same period, it said.

Though GM Korea began to sell the U.S.-made Equinox sport utility vehicle in June, the 1.6-liter diesel-powered Chevrolet Equinox didn't help buoy sales in July.

In its broad self-rescue efforts, the South Korean unit of General Motors Co. plans to introduce 15 vehicles in the local market over the next five years.

In June, the company also launched the upgraded Chevy Spark minicar and picked the Traverse SUV as the next model to be added to its lineup.

From January to July, overall sales fell 12 percent to 283,432 vehicles from 320,405 a year earlier, the company said.

This image shows the corporate logo of GM Korea and the Chevrolet badge used on all vehicles made by the carmaker in South Korea. (Yonhap)


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