General Motors plans to deepen cuts to output at one of its South Korean plants in April to cope with lacklustre sales in Europe, a company official said.
GM Korea will idle its plant in the southwestern city of Gunsan for nine days this month, up from six days in March, the official told Reuters.
Go deeper with GlobalData
The plant, one of five in South Korea, produces the Chevrolet Cruze and Orlando and has an annual production capacity of 260,000 vehicles. The unit produces most Chevys sold in Europe and over 40% of those sold globally. Some output is branded Vauxhall, Opel, Buick and Holden.
“We are adjusting factory output in response to a fall in orders for Europe exports,” the official said, without elaborating.
Reuters noted that Chevrolet sales fell 39% from January to February in Europe, underperforming a 10% fall in the overall passenger vehicle market amid the euro zone debt crisis and government austerity measures.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
