GM’s Korean Operations sold 15,634 vehicles in August. Sales were down 50.7% from the same month last year due to production losses as a result of ongoing wage and collective bargaining agreement (CBA) negotiations.
The decline in GM Korean Operations’ sales in August was caused by production disruptions during the labor-management negotiations. A tentative agreement, initially reached in late July, was not ratified, leading to continued negotiations until a second tentative agreement was reached on August 30.
In August, GM’s Korean Operations achieved sales of 14,020 units in international markets. Leading the way was the Chevrolet Trax Crossover, including its derivative models, which recorded 10,028 units sold. Chevrolet’s introductory crossover model is renowned for its expansive interior, innovative features, and contemporary, sleek design. This has sustained the model’s strong global demand.
In Korea, GM’s Korean Operations sold 1,614 units in August, with the Chevrolet Trax Crossover leading sales. The Chevrolet Traverse saw a 33.3% increase in sales compared to the same month last year, maintaining strong demand in the segment thanks to its large size and best-in-class power performance.
Furthermore, the recently launched Chevrolet All-New Colorado sold 85 units, marking a 30.8% increase from the previous month. The premium American pickup truck, now in its third generation following a complete model upgrade, has set a record for first-time sellouts. The Colorado is known for its refined design, powerful engine and advanced features.
“The Chevrolet Trax Crossover and Trailblazer manufactured in Korea accounted for more than 40% of the compact SUV market in the U.S. during the first half of this year, indicating the enduring strong global demand,” said GM’s Korean Operations Vehicle Sales and Service Vice President Gustavo Colossi. “We look forward to proactively meeting both Korean and global market demand by swiftly restoring production and ensuring seamless deliveries of our recently launched vehicles, including these models.”
GM is offering extensive benefits to its Korean customers with special promotions throughout September. Customers who buy the Trax Crossover can choose a 36-month installment plan at a 4.5% interest rate, a 60-month plan at 4.9%, or a 72-month plan at 5.2%. Additionally, those who purchase the Trailblazer will receive support of KRW 500,000 through a combo installment program.
For customers purchasing the newly launched All-New Colorado, a 72-month installment plan is available at a 6.0% interest rate. Moreover, buyers of the Traverse and Tahoe will receive 15% and 10% of the vehicle price, respectively, under the combo installment plan, and KRW 3 million and KRW 4 million, respectively, if opting for a lump-sum payment.
Meanwhile, GM’s Korean Operations aim to sustain the sales growth achieved in the first half of the year into the second half by swiftly concluding the 2024 wage and CBA negotiations and compensating for the production losses that occurred during the talks.