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.
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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.
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