mobile-menu-icon
GM Authority

Chevrolet Korea Sales Drop 56 Percent In October 2024

By Deivis Centeno

December 17, 2024 1:27 pm

Facebook Twitter LinkedIn Pinterest Email Print
4

Chevrolet Korea sales decreased 56 percent to 1,949 units in October 2024 compared to October 2023 results.

Individual model sales performance was as follows:

During the first 10 months of the 2024 calendar year, Chevrolet South Korea sales decreased 37 percent to 20,927 units.

Sales Results - October 2024 - South Korea - Chevrolet

MODELOCT 2024 / OCT 2023OCTOBER 2024OCTOBER 2023YTD 2024 / YTD 2023 YTD 2024YTD 2023
BOLT EUV-98.35% 2121-98.42%25 1,584
BOLT EV-94.12% 117-93.89%14 229
COLORADO-91.94% 27335-79.19%318 1,528
EQUINOX-100.00% 0176-97.88%13 612
TAHOE-72.00% 1450-54.05%102 222
TRAILBLAZER-38.31% 306496-45.49%3,646 6,689
TRAVERSE-58.29% 83199-15.09%878 1,034
TRAX-50.18% 1,5163,043-19.19%15,930 19,713
CHEVROLET TOTAL-56.07% 1,9494,437-36.81%20,927 33,120

The GM Authority Take

The drastic drop in Chevrolet Korea sales during October deepened the Bow Tie brand’s negative performance in the Asian country, keeping the Bow Tie brand in the red in the same way as during each of the past nine months of the 2024 calendar year. Indeed, the drop in South Korea sales during October represents the tenth consecutive month where Chevy sales were in the red during the month, further reducing the brand’s market share in the local market.

Every single model offered by Chevrolet in South Korea suffered massive double- and triple-digit drops in October, including the best-selling Chevy Trax, which continues to struggle in improving its performance and recover in the South Korean market. The entry-level crossover lost over half of its sales volume on a year-over-year basis in South Korea, where the new Trax first saw very promising sales figures but then began to lose momentum less than a year later.

Likewise, the Chevy Trailblazer – another best-seller for the Bow Tie brand in South Korea – continues to see significant drops in volume in its home country, where it was unable to regain momentum following the mid-cycle refresh. Additionally, the model line imported from North America posted the highest rates of decline during the month, seeing rock-bottom sales levels in the local market.

About The Numbers

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

Further Reading & Sales Reporting

By Deivis Centeno

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

Subscribe to GM Authority

For around-the-clock GM news coverage

We'll send you one email per day with the latest GM news. It's totally free.

You may also like

Comments

  1. Hyundai-Kia-Genesis control 70+% of their home market and South Korean’s, like the Japanese typically only buy cars from the home team. So, even though GM (Daewoo) is generally Korean built, it is now considered a foreign automaker. Most of GM’s (Daewoo) cars are exported. But 20k and falling (#6) per year is hardly worth the effort – Tesla recently started selling cars in South Korea and will surpass 30k this year (#5)

    Reply

  2. They build them for gm (Trax, Encore GX, Envista), but don’t seem to buy these or other gm brands imported to South Korea.

    Reply

  3. Well, they do have a couple issues their government is wrestling with right now….so it’s to be expected…

    Reply

  4. About time to bail on another market Mary.

    Reply

Leave a comment

Cancel