General Motors sales decreased 21.7 percent to 10,004 units in South Korea in August 2017.
To note, GM Korea markets the Chevrolet and Cadillac brands in South Korea, with the former accounting for the overwhelming majority of sales while the latter is in the process of being built up as a luxury brand. The Chevrolet Trax and Malibu led overall sales performance for the domestic market.
The Trax was responsible for 1,365 deliveries in Korea, an increase of 99 percent year-over-year. Chevrolet states that the growth is the result of “positive market response of new model year and expanding domestic small SUV market.” Meanwhile, the Malibu sold 2,474 units in August, an increase of 5.4 percent from July 2017 as a result of “positive market response” to the recently-refreshed 2018 model that brings new features, a Low Pollutant vehicle certification, and a new Perfect Black package.
“The core products such as Trax and Malibu led overall sales in the tough season of the year through positive market response with enhanced product competitiveness,” said Dale Sullivan, GM Korea Vice President of Vehicle Sales, Service and Marketing. “We will continue to improve the product lineup based on precise market analysis while executing marketing activities that re-emphasize the value of one million sales of Chevrolet products.”
During the first eight months of 2017, GM Korea local sales totaled 93,513 vehicles.
In addition, the business unit delivered 31,307 vehicles for export during August, tallying 268,203 export-market vehicles in the first eight months of the year. These figures exclude CKD (Completely Knocked Down) products such as the Chevrolet Captiva exported to China for the purpose of re-assembly.
GM Korea is currently in the process of undergoing various changes to the division. It recently received a new President and CEO in Kaher Kazem. During his first few days on the job, the executive held a press conference to dispel rampant rumors that the automaker was planning to withdraw from the market while also demonstrating to the press the importance of Korean operations for General Motors operations globally. Kazem also communicated plans to return GM Korea to profitability, as it has been a loss-making endeavor for several quarters.