GM Korea's Aug. sales rise 9.6 pct on exports

Corporate Newsroom 15:50 September 01, 2022

SEOUL, Sept. 1 (Yonhap) -- GM Korea Co., the South Korean unit of General Motors Co., said Thursday its sales rose 9.6 percent last month from a year earlier on strong exports.

GM Korea sold 18,208 vehicles in August, up from 16,616 units a year ago despite an extended global chip shortage, the company said in a statement.

Domestic sales fell 24 percent on-year to 3,590 units last month from 4,745, but exports jumped 23 percent to 14,618 from 11,871 over the cited period on strong demand for the Bolt EV and the Equinox and Traverse SUVs, it said.

From January to August, sales declined 12 percent to 167,030 autos from 190,614 a year earlier.

In a two-track brand strategy, GM Korea sells domestically produced and imported vehicles in Asia's fourth-biggest economy.

Its lineup is composed of four locally assembled models -- the Spark mini car, the Malibu sedan and the Trailblazer and Trax SUVs -- and five imported ones -- the Colorado pickup, the Bolt all-electric car and the Equinox, Traverse and Tahoe SUVs.

Most of the models currently sold in South Korea are from the Chevrolet brand.

GM Korea plans to launch the GMC brand in the second half, with the Sierra Denali set to be released as the brand's launch model in the Korean market.