GM Korea’s exports surpass 10 mn units Jan-Nov 2023

GM Korea Co. said on Thursday its vehicle exports have surpassed 10 million units this year as of the end of November with shipments of 10,082,281 units.

It marked the first time for the South Korean arm of General Motors Co. to achieve the 10 million milestone for exports since its establishment as a Korea-based company in October 2002.

Including the shipments of completely knocked-down units for assembly in other countries, GM Korea’s cumulative exports reached 25 million units in the first 11 months of this year.

North America accounted for 35% of its vehicle exports, followed by Western Europe at 26%.

By country, it has shipped more than 2.5 million cars to the US, its largest overseas market.

By model, the Chevrolet Aveo, a subcompact model, took the biggest chunk of overseas sales, with shipments of 2.21 million units in the period of January to November this year.

The Chevrolet Spark mini-car came second with shipments of 1.94 million units, followed by Trax with 1.78 million units.

FLAGSHIP MODELS

GM Korea's exports got a boost from the production of GM's flagship models: the Trailblazer and the Trax Crossover. Korea is one of the US carmaker's production bases for the SUVs.

GM Korea has exported 612,000 units of the Trailblazer and 136,000 units of the Trax Crossover this year as of the end of November.

GM Korea began the mass production of the Trax Crossover early this year.

Hector Villarreal, chief executive of GM Korea, said the company made up 20% of South Korea’s automobile exports in October this year, underscoring its important role for General Motors’ global expansion.

Last year, it turned to profit after eight years of losses. It logged strong sales growth both at home and abroad in the first 10 months of this year, driven by revamped models.

It operates three plants in three locations across the country.

Write to Sungsu Bae at baebae@hankyung.com
 


Yeonhee Kim edited this article.