SOUTH KOREA: Exports boost GM Daewoo August figures - report
GM Daewoo Auto & Technology Co.'s car sales in August more than doubled to 44,650 units from 21,679 a year ago as strong export shipments offset sluggish domestic car sales, the company said on Monday, according to Dow Jones Newswires.
GM Daewoo saw its exports grow five-fold to 35,340 units in August from 6,456 units a year ago as GM expands sales of vehicles manufactured by GM Daewoo in North America, China and Europe under other GM brands, the report said, noting that GM Daewoo's domestic sales declined 39% year on year to 9,310 units in August.
On a month-on-month basis, GM Daewoo's August sales were 8% lower, with domestic sales dropping 18% from July and exports down 5.2%, Dow Jones said.
During the first eight months of this year, GM Daewoo sold a total of 317,794 vehicles, up 15% year on year, while exports climbed 34% year on year to 222,468 units in the eight month period and domestic sales fell 13% to 95,326 units, Dow Jones said.