GM Daewoo Reports Record May Domestic Sales
GM Daewoo Auto & Technology (GM Daewoo) announced today that it sold 14,239 vehicles in Korea in May.This was a record for the month and the second-highest monthly domestic sales in the company's history.
GM Daewoo's domestic vehicle sales in May increased 22.4 percent from 11,637 vehicles sold in May 2007 and 17.3 percent compared to April 2008 sales of 12,139 vehicles.
"The reintroduction of the Damas and Labo mini commercial vehicles played a major role in the upswing in our sales," said Rick LaBelle, GM Daewoo Vice President of Vehicle Sales, Service and Marketing. "We also are enjoying rising demand for GM Daewoo's other fuel-efficient models, including the Matiz, Gentra and Gentra X."
GM Daewoo exported 71,797 vehicles in May, which was down 5.4 percent from the 75,888 vehicles exported in the same month last year.GM Daewoo also exported 99,724 complete knockdown (CKD) kits of parts and components to be assembled into vehicles.This represented an increase of 26.3 percent from the same month last year.
GM Daewoo's sales as a whole totaled 86,036 vehicles in May.This was an increase of 6.3 percent from the previous month and a year-on-year decrease of 1.7 percent.
For the first five months of the year, GM Daewoo sold 408,034 vehicles, which was an annual increase of 2.7percent. Exports, excluding CKD products, climbed 4.1 percent to 353,558 units from the 339,628 units exported in the same period last year, while domestic vehicle sales in the first five months dropped 5.8 percent to 54,476 units from 57,827 units in the same period last year.
GM Daewoo Auto & Technology was established on October 17, 2002.It has five manufacturing facilities in Korea as well as an assembly facility in Vietnam.In addition, GM Daewoo provides market and brand-specific vehicle kits for assembly at GM facilities in China, Thailand, India, Colombia and Venezuela.In 2007, GM Daewoo sold in Korea and exported more than 1.88 million units, including CKD products.GM Daewoo now produces vehicles and kits for Chevrolet, Buick, Opel, Vauxhall, Pontiac, Holden and Suzuki that are offered in more than 150 markets on six continents.Imported GM products from the Cadillac and Saab premium brands are sold in Korea through GM AutoWorld retailers.