GM Daewoo Reports January Sales of 45,842 Vehicles

SEOUL, Korea –: GM Daewoo Auto & Technology (GM Daewoo) announced today that it sold 6,914 vehicles in Korea and exported 38,928 vehicles in January, for total monthly sales of 45,842 vehicles. GM Daewoo’s output was up 13.7 percent from December 2008, when it registered global sales of 40,311 vehicles.

GM Daewoo’s domestic vehicle sales in January rose 21.2 percent from sales of 5,705 vehicles in December 2008. Sales were buoyed by strong demand for GM Daewoo’s first next-generation global model, the Lacetti Premiere, which was launched in mid-November 2008. Domestic sales in January decreased 20.4 percent from 8,689 vehicles sold domestically in January 2008.

Exports of complete vehicles by the automaker were up 12.5 percent in January from 34,606 vehicles exported in December 2008. Exports in January fell 53.6 percent from 83,920 vehicles exported in the same month last year. In January, GM Daewoo also exported 38,694 complete knockdown (CKD) kits of parts and components to be assembled into vehicles.

January vehicle sales were negatively impacted by the continued decrease in global demand for vehicles, which was the result of the global financial crisis. Sales were also affected by the reduced number of working days due to the Lunar New Year holiday.

The introduction in February of the Lacetti Premiere 2.0-liter turbo-diesel sedan and the Winstorm SUV powered by a gasoline engine is expected to strengthen GM Daewoo’s domestic product lineup.

GM Daewoo Auto & Technology was established on October 17, 2002. It has five manufacturing facilities in Korea as well as an assembly facility in Vietnam. In addition, GM Daewoo provides market and brand-specific vehicle kits for assembly at GM facilities in China, Thailand, India, Colombia and Venezuela. In 2008, GM Daewoo sold in Korea and exported more than 1.9 million units, including CKD products. GM Daewoo now produces vehicles and kits for Chevrolet, Buick, Opel, Vauxhall, Pontiac, Holden and Suzuki that are offered in more than 150 markets on six continents. Imported GM products from the Cadillac and Saab premium brands are sold in Korea through GM AutoWorld retailers.

Source : www.theautochannel.com (2/2/2009)