Chevrolet Korea Sales Tank 57 Percent In February 2023
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Chevrolet Korea sales decreased 57 percent to 1,054 units in February 2023 compared to February 2022 results.
Individual model sales performance was as follows:
- Chevrolet Colorado sales decreased 77.31 percent to 98 units
- Chevrolet Equinox sales totaled 55 units
- Chevrolet Malibu sales decreased 79.66 percent to 24 units
- Chevrolet Spark sales decreased 36.98 percent to 392 units
- Chevrolet Tahoe sales totaled 20 units
- Chevrolet Trailblazer sales decreased 63.5 percent to 380 units
- Chevrolet Traverse sales increased 39.34 percent to 85 units
During the first two months of the 2023 calendar year, Chevrolet Korea sales decreased 45 percent to 2,075 units.
Sales Results - February 2023 - South Korea - Chevrolet
| MODEL | FEB 2023 / FEB 2022 | FEBRUARY 2023 | FEBRUARY 2022 | YTD 2023 / YTD 2022 | YTD 2023 | YTD 2022 |
|---|---|---|---|---|---|---|
| COLORADO | -77.31% | 98 | 432 | -72.74% | 205 | 752 |
| EQUINOX | * | 55 | * | * | 116 | * |
| MALIBU | -79.66% | 24 | 118 | -83.46% | 44 | 266 |
| SPARK | -36.98% | 392 | 622 | +8.84% | 702 | 645 |
| TAHOE | * | 20 | * | * | 33 | * |
| TRAILBLAZER | -63.50% | 380 | 1,041 | -53.71% | 810 | 1,750 |
| TRAVERSE | +39.34% | 85 | 61 | +91.86% | 165 | 86 |
| CHEVROLET TOTAL | -56.94% | 1,054 | 2,448 | -45.28% | 2,075 | 3,792 |
The GM Authority Take
After falling to its lowest levels in history during January 2023, Chevrolet Korea sales continued to be in the red, posting a notable double-digit contraction in February. In addition to representing the brand’s fourth consecutive monthly drop in the South Korean market, the 1,054 deliveries recorded last month are also the second-lowest figure for Chevrolet Korea.
This new commercial setback for the Bow Tie brand in Korea is the result of a massive sales volume drop of most of the models offered in that country, which includes the best-selling and locally-produced Chevy Trailblazer and Spark. Both nameplates suffered the most notable drops in February, sapping a combined 931 units on a year-over-year basis. Even so, the Spark city car managed to overtake the Trailblazer subcompact crossover as Chevrolet Korea’s best-selling model in February.
The only nameplate that managed to post positive numbers for the second month of the year was the Chevy Traverse. Even so, it still maintained a comparatively low sales volume.
GM Korea is looking to reverse the drastic decline in sales of its core brand with the arrival of the all-new 2024 Chevy Trax, which began production at the GM Changwon plant last month and will launch within the local market at the end of March.
About The Numbers
- All percent change figures compared to Chevrolet Korea sales in February 2022, unless noted otherwise
- South Korea sales figures reflect actual vehicle registrations rather than wholesales
Further Reading & Sales Reporting
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