Chevrolet Trax Crossover RS (Image courtesy of Yonhap)
SEOUL, Nov. 28 (Korea Bizwire) – In a strategic move set to redefine its presence in the domestic market, GM Korea is on the verge of achieving a noteworthy 20 percent share of South Korea’s automotive exports, bolstered by strong sales of the Trailblazer and Trax Crossover.
In an industry where the combined market share of the three mid-size local players hovers below 10 percent, GM Korea has remarkably fortified its position with just two models, dispelling longstanding rumors of a potential withdrawal from the Korean market.
Recent industry statistics from the Korea Automobile Manufacturers Association (KAMA) for the past month reveal that total domestic automobile exports reached an impressive 225,391 units, inclusive of commercial vehicles. Notably, GM Korea contributed 42,623 units to this figure.
GM Korea’s export volume increased by a staggering 87.5 percent compared to the same period last year, leading to a substantial 18.9 percent share of the overall automotive export market.
Surpassing the other mid-sized automakers – KG Mobility (1.2 percent) and Renault Samsung Motors (1.9 percent) – GM Korea secured the third position in export market share, trailing only industry stalwarts Hyundai (46 percent) and Kia (31.9 percent).
For the cumulative period from January to October of this year, GM Korea exported a total of 337,114 units, translating to a market share of 14.8 percent. (Image courtesy of Yonhap)
For the cumulative period from January to October of this year, GM Korea exported a total of 337,114 units, translating to a market share of 14.8 percent. This achievement gains even more significance considering that the three mid-sized automakers, including GM Korea, collectively secured only a 6.9 percent share of the domestic market during the same period.
Adding more weight to GM Korea’s triumph is the fact that it was achieved with just two vehicle models, the Chevrolet Trailblazer and Trax Crossover, both of which played a pivotal role in the company’s overseas market strategy.
Despite Hyundai’s Kona leading the export charts last month with 21,127 units, the Trax Crossover and Trailblazer secured the second and fourth positions, with exports of 20,590 and 16,806 units, respectively.
In the cumulative exports for January to October of this year, the Trailblazer emerged as the frontrunner with an impressive 176,123 units, while the Trax Crossover secured the fourth position with 137,700 units.
This positive trend suggests a strong possibility for the Trailblazer to top the export charts this year, marking a significant achievement for GM Korea.
GM Korea’s consistent success with these two models stands as a potential deterrent to the persistent speculation surrounding the company’s withdrawal from the Korean market. While General Motors has globally announced plans to completely transition its vehicle lineup to electric models by 2035, specific details regarding electric vehicle production in Korea remain undisclosed.
The closure of GM Korea’s Incheon Bupyeong 2 plant in November of last year only fueled speculation that company was soon to exit the South Korean market. However, the recent surge in popularity of the Trailblazer and Trax Crossover, coupled with forecasts for the production of plug-in hybrid electric vehicles (PHEVs) in Korea by 2027, signal a potential shift in the narrative surrounding GM’s presence in the South Korean market.
A GM Korea spokesperson commented, “The popularity of the Trax Crossover in the U.S. market is even higher than expected,” adding, “After navigating the transition to electric vehicle production, we will continue to introduce new vehicles.” GM Korea’s success in the export market, driven by the Trailblazer and Trax Crossover, not only showcases the brand’s resilience but also challenges assumptions about its future in the South Korean automotive landscape.
Kevin Lee (kevinlee@koreabizwire.com)
