GM Korea Co. said Monday it posted a double-digit on-year drop in sales last month due to lower demand for small cars and its flagship models.
In March, the company's domestic sales plunged 12.4 percent year-on-year to 14,778 vehicles from 16,868. Exports were also down 8.2 percent to 36,072 from 39,276, GM Korea said in a statement.
GM's Impala upper midsize sedan (GM Korea)
The South Korean unit of General Motors Co. also didn't report robust sales results for the first quarter ending March 31.
In the January-March period, GM Korea sold a total of 143,058 vehicles, down 4.6 percent from 149,948 units a year earlier, the company said.
Domestic sales rose 0.2 percent to 37,648 units from 37,564 during the three-month period, while exports fell 6.2 percent to 105,410 from 112,384, the statement said.
Local demand for the upper-mid-size Impala sedan fell dramatically in the first three months as its "new car" effect faded. The Impala went on sale domestically from late 2015, fitted with either a 2.5 or 3.6 liter gasoline engine.
GM Korea is a 76.9 percent owned unit of Detroit-based General Motors Co. (Yonhap)
