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GM Korea's Nov. sales drop 9.2 pct on lower demand

Industry 14:49 December 03, 2018

SEOUL, Dec. 3 (Yonhap) -- GM Korea Co., the South Korean unit of General Motors Co., said Monday its November sales fell 9.2 percent from a year earlier due to weak demand for its models.

GM Korea, which sells it cars under the Chevrolet badge here, sold a total of 38,621 vehicles last month, down from 42,543 units a year earlier, the company said in a statement.

Domestic sales declined 20 percent to 8,294 units last month from 10,349 a year ago. Exports were down 5.8 percent to 30,327 from 32,194 during the same period, it said.

GM Korea has been in a drawn-out dispute with its union and the state-run Korea Development Bank (KDB) over the establishment of a separate research and development (R&D) corporation.

The union has opposed the carmaker's R&D separation plan as they see the move as GM's initial step to scale down South Korean production facilities. The KDB said the R&D firm idea was not consulted among shareholders.

To revive sales, the carmaker plans to introduce 15 vehicles into the local market over the next five years. It has launched the U.S.-made Equinox SUV and the upgraded Chevy Spark minicar since June. The Traverse SUV will be the next model to be added to its lineup.

From January to November, sales fell 12 percent to 420,447 vehicles from 479,058 a year earlier, the company said.

The Chevrolet logo used on cars made by GM Korea (Yonhap)

kyongae.choi@yna.co.kr
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