Losing Competitiveness
GM Korea's October sales fell 37.5 percent from the same period of last year. Domestic sales nosedived 54.2% and exports plunged 30.3% year on year due to the number of business days cut by the long Chuseok holiday period.
GM Korea announced on November 1 that the automaker sold a total of 34,535 units at home and abroad in October. Domestic sales were 7,672 units and exports 26,863 units.
Sales of all models for the Korean market fell nearly 30% year on year. Sales of the small car Spark dropped 49.7 percent to 3,228 units.
The AVEO recorded 57 units in sales, down 71.9 percent from a year earlier, the Cruze 297 units, down 73.4 percent, the Malibu 1,762 units, down 60.2 percent and the Impala 168 units, down 71.6 percent.
Sales of SUVs also contracted. Sales of the Captiva, Orland and Trax fell 45.8 percent, 55.9 percent and 26.1 percent to 141, 437 and 959 units, respectively. The automaker suffered from omnishambles.