GM Korea's August sales rise 9.4 pct on strong exports

General Motors Co.'s South Korean unit, GM Korea, reported a 9.4 percent increase in sales for August 2022 compared to the same period last year, according to a press release. The company sold 23,042 vehicles in August 2022, a rise from 21,059 units sold in August 2021. The surge in sales was primarily due to robust demand for the Chevrolet Trax Crossover. However, domestic sales declined 39.4 percent to 731 units, while exports rose 12.4 percent to 22,311 units.

Despite fewer working days during the summer holiday period and facility construction, overall sales in the company increased. From January to August 2022, sales rose 12.6 percent to 340,684 units, up from 302,658 units in the same period last year. Domestic sales dropped 35.9 percent to 6,768 units during the same period, while exports climbed 14.3 percent to 333,916 units.

GM Korea operates on a two-track strategy, selling both locally assembled and imported vehicles in South Korea, which is Asia's fourth-largest economy. The company's current lineup includes two locally assembled models - the Trailblazer and Trax Crossover - and one imported model, the GMC Sierra Denali.