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GM Authority

GM Korea Sales Decrease 30 Percent In September 2019

GM Korea sales decreased 30 percent to 5,303 units in September 2019 compared to September 2018 results. Sales fell at both of GM’s brands offered in South Korea – Chevrolet and Cadillac.

Chevrolet sales decreased 30 percent 5,171 units:

Cadillac sales decreased 30 percent to 132 units:

In the first nine months of 2019, GM Korea sales decreased 18 percent to 55,271 units.

Sales Results - September 2019 - South Korea - Chevrolet

MODELSEP 2019 / SEP 2018SEPTEMBER 2019SEPTEMBER 2018YTD 2019 / YTD 2018 YTD 2019YTD 2018
BOLT EV+155.71% 17970-49.67%2,363 4,695
CAMARO-47.37% 1019-8.78%135 148
DAMAS+24.09% 273220-7.64%2,588 2,802
EQUINOX-20.54% 147185+92.19%1,649 858
IMPALA-18.18% 6377-61.01%441 1,131
LABO+0.39% 255254-10.76%2,580 2,891
MALIBU-73.71% 6022,290-18.61%9,476 11,643
SPARK-13.14% 2,7433,158-5.49%25,441 26,920
TRAX-16.49% 8711,043+16.42%9,146 7,856
CHEVROLET TOTAL-30.43% 5,1717,433-18.67%53,934 66,311

Sales Results - September 2019 - South Korea - Cadillac

MODELSEP 2019 / SEP 2018SEPTEMBER 2019SEPTEMBER 2018YTD 2019 / YTD 2018 YTD 2019YTD 2018
ATS-90.91% 222-46.34%66 123
CT6-68.75% 3096-29.66%408 580
CTS-5.00% 1920+25.95%165 131
ESCALADE+120.00% 3315+43.26%255 178
XT5+33.33% 4836+8.58%443 408
CADILLAC TOTAL-30.16% 132189-5.85%1,337 1,420

Sales Results - September 2019 - South Korea - GM Totals

BRANDSEP 2019 / SEP 2018SEPTEMBER 2019SEPTEMBER 2018YTD 2019 / YTD 2018 YTD 2019YTD 2018
CHEVROLET TOTAL-30.43% 5,1717,433-18.67%53,934 66,311
CADILLAC TOTAL-30.16% 132189-5.85%1,337 1,420
GM SOUTH KOREA TOTAL-30.43% 5,3037,622-18.40%55,271 67,731

The GM Authority Take

The significant decline in GM Korea sales during September 2019 further deepens the division’s negative sales trend and marks the fifth consecutive month of double-digit declines. Both Chevrolet and Cadillac sold fewer units in September in South Korea, with both brands seeing a 30 percent decline compared to September 2018.

The negative performance in September is primarily a result of low supply of locally-produced models, along with a portfolio that is not as fresh as that of the competition.

Nine of fourteen GM models offered in the South Korean market suffered declines in sales volume. Among them is the Chevrolet Spark – The General’s best-selling vehicle in the Asian country. Meanwhile, five models managed to increase sales volume on a year-over-year basis. Chief among these were the Chevrolet Bolt EV and Cadillac Escalade, both of which recorded the most noteworthy jumps in sales volume in the triple digits.

GM recently launched the Chevrolet Colorado and Chevrolet Traverse in South Korea. The effort is meant to quickly attract attention from consumers and to improve the image of the Chevrolet brand in the country. However, since both the Chevrolet Traverse and Colorado are imported from the United States, neither is likely to reverse GM’s slumping performance in the near future in the South Korean market, especially given the ongoing GM UAW strike that has resulted in production of both models being stopped.

Even when the strike gets resolved and production of the Colorado and Traverse resumes, we don’t expect either of the two models to become substantial sellers given that very few, if any, vehicles imported into South Korea end up selling in huge volumes. That role is usually relegated to locally-produced vehicles.

Luckily, GM has one more trick up its sleeve – the all-new Chevrolet Trailblazer. The subcompact-plus crossover will begin to be manufactured by the end of 2019 at the GM Bupyeong plant and will be sold in South Korea as well as in North America.

About The Numbers

  • All percent change figures compared to GM Korea sales in September 2018, except if noted

Further Reading & Sales Reporting

Deivis is an engineer with a passion for cars and the global auto business. He is constantly investigating about GM's future products.

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