GM Daewoo Reports November 2008 Sales of 62,384 Vehicles

GM Daewoo Auto & Technology (GM Daewoo) announced today that it sold 4,537 vehicles in Korea and exported 57,847 vehicles for total November sales of 62,384 vehicles.

GM Daewoo’s domestic vehicle sales in November decreased 56.9 percent from 10,531 vehicles sold in November 2007, while the automaker’s exports in November fell 24.7 percent from the 76,860 vehicles exported in the same month last year. In November, GM Daewoo also exported 61,795 complete knockdown (CKD) kits of parts and components to be assembled into vehicles.

November vehicle sales were greatly affected by the continued decrease in global demand for vehicles brought about by the international financial crisis. In addition, many automotive financing companies around the world continued to reduce their lending.

For the first 11 months as a whole, GM Daewoo’s domestic vehicle sales were down 5.6 percent to 110,815 vehicles from 117,368 vehicles in the same period last year. GM Daewoo’s vehicle exports in the first 11 months dropped 2.9 percent to 730,834 vehicles from the 752,366 vehicles exported in the same period last year.