GM Daewoo Auto & Technology is cutting the home market price of its Matiz minicar (exported mostly as a Chevrolet) as it is losing sales to Kia Motors’ Morning model.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Starting next month, the Matiz price will be cut by as much as 20% to 6.23m won ($US6,580), an executive at the GM unit told the Yonhap news agency.
It would be the first time a South Korea-based carmaker has offered a price cut, local analysts told Yonhap.
“We decided to cut the price to return profits to our customers,” GM Daewoo executive Lee Hyun-il said.
