GM Korea March sales fall 12.4% on weak exports

Published : Apr 3, 2017 - 15:23 Updated : Apr 3, 2017 - 15:23

GM Korea Co. said Monday it posted a double-digit on-year drop in sales last month due to lower demand for small cars and its flagship models.

In March, the company's domestic sales plunged 12.4 percent year-on-year to 14,778 vehicles from 16,868. Exports were also down 8.2 percent to 36,072 from 39,276, GM Korea said in a statement.

GM's Impala upper midsize sedan (GM Korea)

The South Korean unit of General Motors Co. also didn't report robust sales results for the first quarter ending March 31.

In the January-March period, GM Korea sold a total of 143,058 vehicles, down 4.6 percent from 149,948 units a year earlier, the company said.

Domestic sales rose 0.2 percent to 37,648 units from 37,564 during the three-month period, while exports fell 6.2 percent to 105,410 from 112,384, the statement said.

Local demand for the upper-mid-size Impala sedan fell dramatically in the first three months as its "new car" effect faded. The Impala went on sale domestically from late 2015, fitted with either a 2.5 or 3.6 liter gasoline engine.

GM Korea is a 76.9 percent owned unit of Detroit-based General Motors Co. (Yonhap)