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GM Korea's July sales fall 14 pct on lower demand

Autos 14:18 August 01, 2019

SEOUL, Aug. 1 (Yonhap) -- GM Korea Co., the South Korean unit of General Motors Co., said Thursday its sales dropped 14 percent last month from a year earlier on lower demand at home and abroad.

GM Korea sold 31,851 vehicles in July, down from 37,046 units the previous year, due to lower demand for such models as the Impala and the Malibu sedan, the company said in a statement.

Domestic sales plunged 25 percent to 6,754 units last month from 9,000 a year ago. Exports declined 11 percent to 25,097 from 28,046 during the same period, it said.

To revive sluggish sales, the carmaker plans to introduce 15 new vehicles to the local market over the next five years. It launched the U.S.-made Equinox and the upgraded Chevrolet Spark minicar last year.

In the third quarter, it plans to add the Traverse SUV and the midsize Colorado pickup truck in the Korean market.

From January to July, the company's sales fell 7.2 percent to 263,023 autos from 283,432 a year earlier, the statement said.

GM Korea's July sales fall 14 pct on lower demand - 1


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