GM’s Korean Operations Achieve Highest Annual Sales Since 2017, Selling 468,059 Vehicles

2024-01-04

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GM’s Korean Operations' sales of complete vehicles in Korea and overseas in 2023 surged 76.6% from the previous year to 468,059 units. It was the company’s highest annual sales since 2017.

GM's Korean Operations achieved overseas sales of 429,304 units in 2023, marking a 88.5% rise from the previous year and the company’s best sales outside Korea since 2015. The Chevrolet Trailblazer had sales of 213,169 units, an 37.2% increase from the previous year. The Trailblazer and Chevrolet Trax Crossover, which sold 216,135 units, drove overseas sales.

In the domestic market, GM's Korean Operations recorded sales of 38,755 vehicles, a rise of 4.1% from the prior year. The Trax Crossover and Trailblazer spearheaded sales. The Trax Crossover maintained the top position among CUV models sold in Korea from its launch until November.

In December, GM's Korean Operations sold a total of 51,415 units, a 116.0% increase from the previous year and the company’s best overall monthly performance last year.

Overseas sales surged 124.0% from the same month in 2022, hitting 49,201 units. It extended the streak of year-on-year growth by GM’s Korean Operations on the global stage to 21 months and represented peak monthly sales in 2023. It represented the best December result since 2013.

The Trax Crossover (along with its derivative model) contributed significantly through sales of 30,248 units in overseas markets during December, marking its highest monthly sales since its introduction. The model made its overseas debut in February. Its monthly sales outside Korea exceeded 20,000 units four consecutive months starting from September, following June and July.

Furthermore, 18,953 units of the Trailblazer (along with its derivative model) were purchased in international markets in December. The facelifted model, with its sophisticated design, enjoyed remarkable market appeal. Its sales of 194,838 units (as reported by the Korea Automobile Mobility Industry Association) from January to November 2023 secured the top spot in cumulative exports from Korea.

In December, GM Korea experienced a surge of 20.3% on an annual basis to 2,214 units sold in the domestic market while the Chevrolet Trax Crossover led the upward trend. The entry-level Chevrolet model, which redefined the crossover segment, has enjoyed considerable attention in both the domestic market and global markets thanks to its roomy interior, innovative features and contemporary design.

“We extend our heartfelt thanks to our customers for their trust and support of GM and the Chevrolet and GMC brands throughout the previous year,” said Gustavo Colossi, vice president of Vehicle Sales and Service for GM’s Korean Operations. “Following the introduction of new offerings such as the Chevrolet Trax Crossover and GMC Sierra in the local market last year, we aim to maintain our positive trajectory in 2024. Our commitment to offer products with a genuine American essence and cutting-edge technology, backed by premium service, to our domestic customers remains unchanged.”

In January, Chevrolet is extending its substantial advantages to local customers through exclusive promotions. The brand is presenting diverse installment options for Trailblazer buyers, including combined installments that blend cash incentives with installment benefits. Buyers of the Traverse can avail themselves of a combined installment benefit of up to 15% on the vehicle's price, while Tahoe purchasers can receive a benefit up to KRW 3 million. Customers paying upfront for the Traverse can enjoy benefits of up to KRW 3 million, and those paying upfront for the Tahoe can get up to KRW 4 million in support.

* Cadillac performance is excluded from the monthly performance of GM's Korean Operations.

ABOUT GENERAL MOTORS

General Motors is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at www.gm.com.

GM operates production and sales operations and an engineering center in Korea, which were established in 2002 and 2019, respectively. GM’s Korean Operations have about 12,000 employees. In 2022, GM’s Korean Operations sold 37,237 units in Korea and exported 227,638 finished vehicles around the world.

CONTACTS

General Motors Media Communications

Byeongsoo Kim byeongsoo.kim@gm.com (010-3283-8617)

Seungyoon Ryu seungyoon.ryu@gm.com (010-5428-8493)

Sooyoung Kim  sooyoung.kim@gm.com (010-5138-8535)

NPR Intercommunications

Youngseok Park yspark@nprcom.co.kr (010-8510-1206)

Eunseok Jang     esjang@nprcom.co.kr (010-9687-9105)

Jongseok Kim    jskim@nprcom.co.kr (010-3927-1021)

WEBSITE

https://media.gm.com/media/kr/ko/chevrolet/home.html

<GM’s Korean Operations December Sales Table>