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GM Daewoo Tops Hyundai in KD Exports
Choi Kyong-ae
Korea Times

GM Daewoo overwhelmed Hyundai Motor in exports of knockdown (KD) units in the first four months of the year, business sources said on Friday.

The automaker’s KD exports from January to April were up a whopping 260 percent from the same period of last year on the back of a sharply increased output in its production lines in major markets such as China, India, Thailand and Vietnam.

The total volume of KD exports were the equivalent of 199,651 cars, up 197 percent from a year earlier, accounting for 28 percent of exports of completed vehicles in the cited period.

GM Daewoo shipped 102,076 KD units in the four months to April, followed by Hyundai Motor with 86,766 units and its sister company Kia Motors with 9,654 units, according to industry sources.

In export value, however, Hyundai Motor secured the top position, exporting KD units worth $369 million when GM Daewoo posted $354 million. GM Daewoo still has a long way to go to claim more of a market share in complete car production, domestic sales and exports.

Hyundai Motor and GM Daewoo have been in a neck-and-neck race last year but this year the latter has been working at a brisker pace.

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