GM Korea’s exports surpass 10 mn units Jan-Nov 2023

The South Korean subsidiary logged strong sales growth in the Jan-Oct period thanks to revamped models

GM's SUV Trax Crossover
GM's SUV Trax Crossover
Sungsu Bae 1
2023-12-07 17:10:52 baebae@hankyung.com
Automobiles

GM Korea Co. said on Thursday its vehicle exports have surpassed 10 million units this year as of the end of November with shipments of 10,082,281 units.

It marked the first time for the South Korean arm of General Motors Co. to achieve the 10 million milestone for exports since its establishment as a Korea-based company in October 2002.

Including the shipments of completely knocked-down units for assembly in other countries, GM Korea’s cumulative exports reached 25 million units in the first 11 months of this year.

North America accounted for 35% of its vehicle exports, followed by Western Europe at 26%.

By country, it has shipped more than 2.5 million cars to the US, its largest overseas market.

The car assembly line at GM Korea's Changwon plant, South Gyeongsang Province
The car assembly line at GM Korea's Changwon plant, South Gyeongsang Province

By model, the Chevrolet Aveo, a subcompact model, took the biggest chunk of overseas sales, with shipments of 2.21 million units in the period of January to November this year.

The Chevrolet Spark mini-car came second with shipments of 1.94 million units, followed by Trax with 1.78 million units.

FLAGSHIP MODELS

GM Korea's exports got a boost from the production of GM's flagship models: the Trailblazer and the Trax Crossover. Korea is one of the US carmaker's production bases for the SUVs.

GM Korea has exported 612,000 units of the Trailblazer and 136,000 units of the Trax Crossover this year as of the end of November.

GM Korea began the mass production of the Trax Crossover early this year.

Hector Villarreal, chief executive of GM Korea, said the company made up 20% of South Korea’s automobile exports in October this year, underscoring its important role for General Motors’ global expansion.

Last year, it turned to profit after eight years of losses. It logged strong sales growth both at home and abroad in the first 10 months of this year, driven by revamped models.

It operates three plants in three locations across the country.

Write to Sungsu Bae at baebae@hankyung.com
 


Yeonhee Kim edited this article.
#GeneralMotors #GMKorea #ChevroletAveo #ChevroletSpark #HectorVillarreal ##Trailblazer #TraxCrossover

S.Korea’s car exports hit H1 record high on brisk EV sales

S.Korea’s car exports hit H1 record high on brisk EV sales

(Courtesy of Yonhap) South Korea’s automobile export value in the first six months of this year hit the highest-ever $35.7 billion for a half-year period, mainly driven by a surge in demand for the country’s eco-friendly cars abroad especially in the US and Europe.Korea’s auto

GM names Hector Villarreal as new CEO for S.Korean operations

GM names Hector Villarreal as new CEO for S.Korean operations

Hector Villarreal (Courtesy of GM Korea) General Motors (GM) on Friday named Hector Villarreal as the new president of GM Korea. After more than 40 years with the company, GM Korea President Roberto Rempel will retire at the end of this year.Mr. Villarreal joined GM Mexico's Ramos Irizpé

GM's SUV Trax Crossover gets 6,000 preorders in 3 days

GM's SUV Trax Crossover gets 6,000 preorders in 3 days

GM's SUV Trax Crossover The Chevrolet Trax Crossover, a utility vehicle mass produced by General Motors Korea, is soon expected to exceed 10,000 preorders amid greater-than-expected demand.Industry sources on Sunday said the Trax Crossover, which was officially released on Wednesday, saw 6,000

GM Korea begins mass production of Trax crossover

GM Korea begins mass production of Trax crossover

GM Korea CEO Roberto Rempel (Courtesy of GM Korea) General Motors Korea announced on Sunday that it celebrated the start of mass production of the Chevrolet Trax Crossover, a new utility vehicle, at its Changwon plant on Feb. 24.GM Korea Chief Executive Roberto Rempel expressed his satisfaction

GM Korea to launch Trax, Cadillac EV; likely turn to profit this year

GM Korea to launch Trax, Cadillac EV; likely turn to profit this year

GM Korea CEO Roberto Rempel unveils this year's business plan at a press conference GM Korea Co. expects to turn to profit this year after years of losses as the South Korean subsidiary of the US auto giant plans to bring six new and partially revamped models, including the Cadillac LYRIQ elect
(* comment hide *}