Chevrolet Sales Struggle in South Korea
Although GM Korea was able to avoid bankruptcy earlier this year, sales for the Chevrolet brand in South Korea are currently on the decline
Chevrolet ended the second quarter of 2018 with some very impressive domestic sales. By the end of the second quarter, the automaker had delivered 528,100 vehicles, a 6.2 percent increase compared to the second quarter of 2017. Of course, Chevrolet isn’t doing quite as well in some of its other markets. The automaker’s South Korean operations recently avoided having to file for bankruptcy, while sales suffered a 35 percent decline in May.
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By the end of May, Chevrolet had sold 7,670 vehicles in South Korea, compared to the 11,851 vehicles delivered by June of last year. The year-to-date sales outlook is even less optimistic. So far this year, Chevrolet has sold 32,959 South Korea vehicles. During the same period of time in 2017, Chevrolet delivered 61,237 vehicles.
Only one Chevy vehicle actually gained sales in South Korea: the Chevrolet Bolt EV. Chevrolet sold 1,027 Bolts in May alone, a massive 708.66 percent sales increase over the 127 Bolts it sold during May of 2017.
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Chevrolet isn’t simply accepting these sales losses. Plans are already in place to introduce new models that better fit the tastes of the South Korean market. An updated 2019 Chevrolet Spark entered the South Korean market earlier this summer. Furthermore, Chevrolet is adding the ever-popular Equinox to its South Korean lineup. Only time will tell if these new vehicle additions will reverse Chevy’s fortunes in South Korea. In the meantime, Chevy will just have to look to its other markets for more positive sales numbers.
News Source: GM Authority