Renault Korea's sales drop 24.7 pct in Sept. on weak demand

General Motors Korea experienced a remarkable sales surge of 73.3 percent in September compared to the previous year, fueled by robust overseas demand. In September, the company sold a total of 41,101 vehicles, a significant increase from 23,723 units sold in the same month a year ago. This growth was primarily attributed to the strong sales performance of the Chevrolet Trax Crossover and the Trailblazer sport utility vehicle (SUV), as reported by GM Korea in a press release.

However, domestic sales took a significant hit, plummeting 40.9 percent to 727 units, down from 1,231 units in September 2022. On the other hand, exports saw a substantial rise of 79.5 percent to 40,374 units, up from 22,492 units in September 2022.

Looking at the broader trend from January to September 2022, GM Korea's sales increased by 17 percent, reaching 381,785 units compared to 326,381 units sold during the corresponding period in the previous year. However, domestic sales experienced a notable decline of 36.4 percent, falling to 7,495 units from 11,785 units, while exports grew by 19 percent, climbing to 374,290 units from 314,596 units.

As part of its dual strategy, GM Korea sells both locally assembled and imported vehicles in South Korea, the fourth-largest economy in Asia. The company's current lineup comprises two locally assembled models - the Trailblazer and Trax Crossover - and one imported model, the GMC Sierra Denali. Furthermore, the Buick Electra E7 plug-in hybrid SUV is anticipated to be added to the lineup as early as next year.