April 26, 2024

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[THE INVESTOR] GM Korea said on April 2 its sales plunged 19 percent in March from a year earlier due to weaker domestic demand.

GM Korea sold 41,260 vehicles in the one-month period, down from 50,850 units a year earlier due mainly to a lack of new models, the company said in a statement.

Domestic sales plunged 58 percent to 6,272 units last month from 14,778 a year ago. Exports declined 3 percent to 34,988 units from 36,072 during the same period, it said.

The sales slump was mainly affected by weaker local demand for the Cruze subcompact, midsize Malibu and flagship Impala sedans, the statement said.

In the January-March period, GM Korea saw its combined sales slump 16 percent on-year to 120,386 vehicles from 143,058 a year earlier, it said.

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