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GM Korea Sets Domestic Sales Target of 194,000 Units for 2017

By February 9, 2017 at 6:01 am
GM Korea sets domestic sales target of 194,000 units for 2017

GM Korea Co. aims to sell 194,000 units in 2017, with the target to corner a 10 percent share of the Korean automobile market, according to chief executive James Kim on Thursday.

The company, which is the South Korean subsidiary of the U.S. car maker General Motors, sold a record 180,275 vehicles in 2016, which represents a 13.8 percent jump from the previous year. However, it still fell short of the company's objective to achieve a 10 percent share.

GM Korea hosted the 2017 Chevrolet dealership workshop in Incheon on Wednesday where Kim unveiled the company's plans of achieving its target to increase its market share to double digits this year. Also in attendance is Dale Sullivan, the vice president of vehicle sales, services and marketing at GM Korea.

In a press release, Kim said that he is optimistic that the company will attain its double-digit share in the domestic market this year with new models on the pipeline like the all new Chevrolet Cruze and the Volt plug-in electric vehicle.

Later this year, the company is expected to launch the Bolt full electric vehicle.  

The CEO also emphasized aggressive marketing and excellent customer service to play key roles in surpassing the company's achievements in 2016.  

If this year's sales target is achieved, it would mark a 7.1 percent jump from 2016, and setting a new high for highest ever local sales for the global brand.

In 2016, GM Korea accounted for 9.9 percent of all vehicles sold in the country, including Korean brands, making it the third biggest carmaker behind popular local brands Hyundai and Kia.    

Last year's sales performance also marked the first time the company reached 180,000 units since it entered the Korean market in 2011.

In January, sales of GM Korea in the domestic market came at 11,643 units, an increase of 25.5 percent from the year-ago month.

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