GM Daewoo has launched a redesigned version of its Winstorm sport-utility vehicle to boost domestic market sales as soaring diesel costs hit volume.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Sales of SUVs slipped 18.2% from a year earlier to 14,258 units in the first four months of 2008, Asia Pulse reported, citing data Korea Automobile Manufacturers Association data.
Diesel at US$2 was pricer than petrol, prompting customers to shun diesel-fueled SUVs.
“For new cars running on diesel, the recent surge in diesel prices is posing a lethal impact on their sales,” local brokerage Korea Investment and Securities was quoted as saying in a research note.
The Asia Pulse report noted that GM Daewoo’s vehicle May sales fell 1.7% year on year to 90,127 units.
