SEOUL– GM Korea Co., the South Korean unit of General Motors Co., said Wednesday its sales rose 26 percent last month from a year earlier on strong exports.
GM Korea sold a total of 16,251 vehicles in January, up from 12,911 units a year ago despite an extended global chip shortage, the company said in a statement.
Domestic sales fell 24 percent on-year to 1,021 units last month from 1,344, while exports jumped 32 percent to 15,230 from 11,567 over the cited period on increased shipments of the Trailblazer SUV, it said.
In a two-track strategy, GM Korea sells domestically produced and imported vehicles in Asia’s fourth-biggest economy.
Its lineup is composed of one locally assembled model, the Trailblazer SUV, and five imported ones — the Colorado pickup, the Bolt all-electric car, and the Equinox, Traverse and Tahoe SUVs.
The Spark mini car, Trax compact SUV and the Malibu midsize sedan were part of the lineup, but the company stopped their production last year.
Most of the models currently sold in South Korea are from the Chevrolet brand. The Cadillac brand models are available here as well.
GM Korea plans to launch the GMC brand this year, with the Sierra Denali set to be released as the brand’s launch model in the Korean market.
The company likely achieved a turnaround in 2022 after reporting net losses for eight consecutive years through 2021, a GM Korea official said.
To continue the turnaround this year, GM Korea plans to launch six new and upgraded models, including the all-new Trax Crossover and the Cadillac LYRIQ EV.
GM Korea plans to begin the production of the Trax Crossover in Changwon, about 300 kilometers south of Seoul, in the first quarter. The Trailblazer is being assembled in GM’s Bupyeong plant, just west of Seoul.
Source: Yonhap News Agency