GM Daewoo Auto & Technology sold 112,631 vehicles globally in October, setting a monthly sales record for the second consecutive month.
Sales climbed 40.6% from October 2004, when 80,127 vehicles were moved.
Total sales for the first 10 months of 2005 grew 27.3% year-on-year to 911,811 units from last year’s 716,222. The increase was primarily due to a large increase in exports of complete vehicles and knockdown (KD) kits.
Exports in October rose 45% to 103,123 units from last October’s 71,095, exceeding 100,000 on a monthly basis for the first time in the company’s three-year history. Strong demand for vehicles assembled in China, Thailand, India, Colombia and Venezuela fuelled a big rise in KD exports to 50,774 units, up 80% on the 28,208 units exported in the same month last year.
Exports of complete vehicles increased 22.1% in October 2005 to 52,349 units from last October’s 42,887 units.
GM Daewoo’s domestic sales in October rose 5.3% to 9,508 units from 9,032 units in the same month last year. This was an increase of 5.4% from September.
For the first 10 months, GM Daewoo exports rose 30.4% to 823,743 units from 631,545 units in the same period last year. Domestic sales in the first 10 months increased 4% to 88,068 units from 84,677 units in the same period last year.
Following this year’s rebranding exercise in markets such as the UK, the vehicles are now sold mostly under the Chevrolet nameplate worldwide but there are exceptions including Daewoo at home in Korea and Holden in Australia.