GM Korea's January sales drop 3.8 pct

GM Korea Co., the local unit of General Motors Co. of the United States, said Monday its January sales shrank 3.8 percent from a year earlier despite strong demand in the domestic market.

South Korea's third-largest carmaker sold a total of 51,585 vehicles last month, down from 53,606 for the same month of 2014, the company said in a press release.

Its domestic sales jumped 9 percent on-year to 11,849 units on the back of strong demand for steady selling models, such as the Spark, the Malibu midsize and the Alpheon near-luxury car. This marked the largest January sales since January 2003, when it sold 12,515 units here.

Overseas shipments, however, dropped 7 percent on-year to 39,736 vehicles.

The lackluster sales overseas were largely affected by the pullout of its Chevrolet-badged vehicles from Europe, the company said. Sluggish performance in other emerging markets, including Russia, also contributed to the decline.

GM Korea said the January figures were still a "good" start, hoping it will be able to build on them.

"After setting an annual domestic sales record last year, GM Korea got off to a good start in 2015," said Marc Comeau, vice president of GM Korea's vehicle sales, service and marketing.

"We plan to keep up our positive momentum with new products, such as the 2015 Chevrolet Spark and amazing new 2015 Chevrolet Cruze, in addition to the highest level of customer service and innovative marketing campaigns," he added. (Yonhap)