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· Premium Member
12,770 Posts
Discussion Starter · #1 ·
S.Korea's GM Daewoo December sales double
Reuters, 01.02.04, 12:40 AM ET

SEOUL, Jan 2 (Reuters) - Following are GM Daewoo Automotive
and Technology Co's total sales and exports in December versus
a year ago.

Month-Year: Dec 2003 / Dec 2002
TOTAL SALES: 67,018 / 33,046
EXPORTS: 57,530 / 19,686

Unlisted GM Daewoo is South Korea's third-largest auto
maker. General Motors Corp
(nyse: GM - news - people), the world's largest auto
maker, and partners took a majority stake in some of the assets
of Daewoo Motor in 2002, creating GM Daewoo.

GM Daewoo began exports to the United States in early 2003,
resuming shipments halted in 2001 when the former Daewoo Motor
was in financial trouble. The company has seen robust sales
growth since, with some cars sold under the GM brand.

GM-Daewoo's December sales brought total sales last year to
571,219 units, up 51.4 percent from a year earlier, a company
spokesman said.

Article Here

· Premium Member
1,720 Posts
Is this good news for the Korean entity in no small part due to the recently retired Holden Chief Peter Hanenberger and his team who were entrusted by GM to get Daewoo on its feet again!


· Premium Member
12,770 Posts
Discussion Starter · #4 ·
GM Daewoo Exports Soar

SEOUL : GM Daewoo Auto and Technology Co. said its 2003 exports jumped 98
percent year-on-year to 443,460 units, more than offsetting sluggish domestic sales.

The 443,460 units included 187,218 knocked-down kits to be assembled abroad.

Its 2003 domestic sales fell 16.8 percent to 127,759 units amid an economic slowdown.

Exports to the European Union soared 21.6 percent to 133,238 units. The company also shipped a total of 66,530 units to the United States after it resumed exporting cars there in August last year.

"We hope to sell more than 800,000 units this year, including more than 650,000 units to be exported," a spokesman of GM Daewoo said.

The company, which was launched in October 2002 when General Motors acquired the debt-ridden Daewoo Motors, has not yet shifted into the black.

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