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The Korea Herald
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THE INVESTOR
March 29, 2024

Automobiles

GM Korea’s sales down 19% in February

  • PUBLISHED :March 02, 2018 - 23:50
  • UPDATED :March 02, 2018 - 23:53
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[THE INVESTOR] GM Korea sold 36,725 cars at home and abroad in February, down 19 percent from the same period in 2017.

Data from the carmaker on March 2 showed that in Korea, it sold 5,804 cars. It was the smallest monthly sales since March 2009. Compared to the same period last year, the figure reflects a 48.3 percent decline. Exports fell 19 percent to 30,921 cars. 




Out of them, 234 were the Cruze, while 365 were Orlandos. Both are being manufactured at GM Korea's Gunsan plant, which is to be shut down by May this year. GM Korea has decided to continue selling the two models until it runs out of inventory.

Despite the sales decline and ongoing restructuring, the carmaker is hoping to reignite sales with incentives and promotions, such as extended warranties.

Dale Sullivan, the vice president of GM Korea’s sales, services and marketing, has said that the carmaker will offer “sensational” offers in March to retain customer trust.

Meanwhile, GM’s US headquarters are still at odds with the Korean government – the second-largest shareholder at the carmaker through Korea Development Bank – over how to bail out GM Korea.

March 2 was the deadline for submitting voluntary retirement submissions, including at least 35 percent of the top executives. There are just over 16,000 employees at GM Korea.

By Song Seung-hyun (ssh@heraldcorp.com)

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