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GM Authority

Chevrolet Korea Sales Jump 182 Percent In January 2024

Chevrolet Korea sales increased 182 percent to 2,880 units in January 2024 compared to January 2023 results.

Individual model sales performance was as follows:

Sales Results - January 2024 - South Korea - Chevrolet

MODELJAN 2024 / JAN 2023JANUARY 2024JANUARY 2023
BOLT EUV* 2*
BOLT EV* 2*
COLORADO-64.49% 38107
EQUINOX-91.80% 561
TAHOE-46.15% 713
TRAILBLAZER+7.21% 461430
TRAVERSE+48.75% 11980
TRAX* 2,246*
CHEVROLET TOTAL+182.08% 2,8801,021

The GM Authority Take

Chevrolet Korea sales started the 2024 calendar year with a bang thanks to a triple-digit increase in January, expanding the Bow Tie brand’s performance in the Asian country, which recently saw an uptick. In fact, the January 2024 growth represents Chevrolet’s fourth consecutive monthly increase in South Korea, where the brand now has an updated vehicle portfolio that has increased its level of competitiveness in the local market.

As was the case during the past few months, the all-new 2024 Chevy Trax was the star of the show, as it was single-handedly responsible for significant sales increase experienced by Chevrolet Korea in January. Not only do the 2,246 Trax deliveries represent about 80 percent of overall Chevy sales in South Korea during the month, but they’re also noticeably higher than the 1,637 units delivered in December 2023. The growth is the result of healthy inventory levels as more units are made at the GM Changwon plant.

The Chevy Trailblazer and Chevy Traverse were also in the green, contributing to Chevy’s solid overall performance during the month. By contrast, three other nameplates – Colorado, Tahoe, and Equinox – suffered declines in January. The all-electric Chevy Bolt family recorded a measly four combined deliveries due to lower availability of units in the the local market.

About The Numbers

  • All percent change figures compared to Chevrolet Korea sales in January 2023, unless noted otherwise
  • South Korea sales figures reflect actual vehicle registrations rather than wholesales

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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Comments

  1. It just shows the Korean people are more loyal to the cars they manufacture in their own country. Unlike Americans who will buy any crap even though not made by their fellow Americans.

    Reply
    1. difficult to make that comparison. Those figures are actually quite small; the best selling foreign brands in South Korea are actually the Germans (all imports): in Jan 2024, 4,330 BWMs were sold, and 2,931 MBs.

      Reply
    2. The lobbying relationship between Hyundai and the Korean government is considerable. Korean consumers have no choice but to buy Hyundai because various laws and regulations in Korea are tailored to Hyundai. This trend is especially severe in the case of electric vehicles.

      Reply
      1. Not sure what lobbying relationship. GM Korea was bailed out to the tune of $7 B by the South Korean taxpayers back in 2019 — and that’s after SK and the US struck a Free Trade Agreement under Trump, highly lopsided in the US’s favor: eg) extension of the notorious American “Chicken Tax” for another 25 years. Also according to recent new vehicle registration in SK, about 20% are foreign imports.

        >> This trend is especially severe in the case of electric vehicles. <<
        Also difficult to say this since the EV adoption in SK isn't all that great. SK's had a negative EV growth in 2023. Kia's recent launch of the EV9, a full-size SUV, was a huge failure by all account — big vehicles don't sell well in South Korea while this is expected to be wildly popular in the US.

        Reply
        1. In Korea, there is a culture where politicians have historically colluded with the heads of large corporations called “chaebols” for a long time, and according to Korean media, Hyundai and Samsung, in particular, currently have very close relationships with senior Korean political officials. Additionally, the Korean Ministry of Transportation has a number of employees who have worked for HMG. Using their close relationship with HMG, Korea’s electric vehicle purchasing system has been revamped to their advantage. But GM Korea’s bailout you mentioned and U.S. government tariffs are separate from these Hyundai friendly regulations. Why are you talking about irrelevant things?

          Reply
          1. Sure, Mao,

            >> Why are you talking about irrelevant things? <<
            if we assume OC's claim "lobbying relationship between Hyundai and the Korean government is considerable" to be true and there is something nefarious going on, the GM bailout wouldn't have happened. Or better yet, the GM bailout shows that even foreign entities have just as much "lobbying relationship" with the Korean gov't as Hyundai.

            Further, the new FTA example shows that American automakers also have as much "lobbying relationship" with their gov't, which again shows that "lobbying relationship" between big domestic company and govt's is nothing conspicuous or unique to South Korea's Hyundai.

            capiche?

            Reply
  2. Strange no mention of the Malibu. An I do wonder about the quality in the Korean manufacturing its good or better than the American?

    Reply
    1. Koreans have higher IQs on average in comparison to Americans, plus they are not governed by the UAW.

      Reply
      1. Joe G: Are you implied that the manufacturing in Korea is better than the american counterpart

        Reply
        1. I think it’s odd to be wondering about this now, decades after Korean cars became available in the US, and long after GM started selling Korean made cars here like the Encore and Trax.

          Reply
      2. I guess most aren’t familiar with the world’s most militant auto union in the world!

        Reply
  3. Why do so many believe Asian made products are a lesser grade than American manufactured goods?

    Reply
    1. because they are. in the 90s and 2000s when domestics were absolute trash japanese were better. koreans were never in that competition as they were and are subpar.

      now we have an inverse. japanese are making garbage and domestics (outside of stellantis) have increased their quality a lot. only the blind and those who havent owned new machines think otherwise.

      Reply
  4. The arena in Orlando, FL, was named the Amway Center forever. January of this year was renamed the KIA Center. Hyundai/Kia has become quite a formable competitor. Over 1.5 million vehicles were sold for 2033 with nearly a 50/50 split between each brand with some model’s manufactured in the USA.

    Reply
    1. Quite formidable at recalls….you mean. Any company can have a building named after them if enough cash changes hands.

      Reply
  5. South Korea has never been a enemy of the United States. Always a ally, and should be given favorable trade status. Only England, France and Israel can claim that status too. There’s other smaller countries but basically don’t have much manufacturing capabilities.

    Reply
  6. Four EV’s sold. Fire up production!

    Reply
  7. They sell 1900 cars in a 57 million population country really of only one model, and they are happy??? Oh, come now – this is a cheap PR ploy. They are already getting killed in all the other major world markets – that is where it counts. If you are not an international company in this day and age, you are nothing. but poor management. Stop pushing EVs and go after world leadership. +1900 cars… oh come now….

    Reply
    1. Well, they are going to need EVs, or at least hybrids, if they want to go after world leadership.
      But that’s not going to happen anyway. They are a bureaucratic mess that also builds cars. Perhaps one day another company will take one their brands and make it a world leader, but it won’t be done under their current structure.

      Reply
      1. I agree 100%!

        Reply

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