BUSINESS

[Busan Motor Show] GM Korea seeks turnaround next year

By Kim Bo-gyung
  • Published : Jun 8, 2018 - 00:48
  • Updated : Jun 8, 2018 - 00:50
BUSAN -- GM Korea, the local unit of the US auto giant, said Thursday it expects to make a turnaround next year on newly launched cars centered on sport utility vehicles.

“I’m confident to say that we have landed on significant agreement with all our stakeholders that enables us to move forward. I’d like to think that we can try to get to profitability as soon as next year,” GM Korea chief Kaher Kazem said during a meeting with reporters at the Busan motor show. 

GM Korea CEO Kaher Kazem answers questions at a meeting with reporters during the Busan International Motor Show held in Bexco. (GM Korea)

Although it has a long way to go, last month the company posted its best performance this year so far, showing signs of recovery after months of plummeting sales and instable business.

Last month it sold 40,879 units, roughly 43 percent more compared to April, the company said.

GM Korea also began sales of the midsize SUV Equinox simultaneously with the start of this year’s Busan International Motor Show, with hopes of taking on the popular segment here, the company said.

Equinox is the second model to go on sale since the firm reached consensus with its union and the government, following last month’s launch of the new Spark compact car. 

GM Korea displays the midsize SUV Equinox, one of Chevy’s top selling models worldwide, at the 2018 Busan motor show. (GM Korea)

As part of measures to accomplish its goal to raise the proportion of total sales made up by SUVs to 63 percent from 13.7 percent recorded between January and May this year, the company also revealed the Chevrolet Colorado pickup truck to local drivers in Busan. 

By Kim Bo-gyung (lisakim425@heraldcorp.com)


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