This file photo offered by GM Korea shows its Changwon plant, 301 kilometers south of Seoul.
SEOUL, Jan. 30 (Korea Bizwire) — General Motors Co. said Monday it will launch the all-new global product Trax Crossover in South Korea and a Cadillac electric vehicle (EV) this year, a move that underscores its commitment to the Korea market.
GM plans to introduce six new and upgraded models, including the Trax Crossover and the Cadillac LYRIQ EV, in the first quarter and during the year, respectively, the company said in a statement.
This year, GM aims to turn around its operations in South Korea by increasing exports of next-generation vehicles and boosting domestic sales of the six vehicles that also include a GMC model.
GM Korea Co. reported net losses for eight consecutive years through 2021 due to lack of new models and weak sales. Its 2022 financial results have yet to be released.
GM plans to launch 10 EVs in Korea by 2025, as it is transforming into a platform innovator and expanding the “critical role” of Korea as part of its global growth strategy.
GM has taken deliberate steps to improve the sustainability of its Korean business by introducing new products and improving customer-focused business strategies, Shilpan Amin, GM’s senior vice president and president of GM’s overseas division, said in a statement.
“Following the outstanding success of the Chevrolet Trailblazer in Korea and around the world, our new crossover is already a huge hit in the U.S., and I am sure this will be another great success in Korea as well,” he said.
The Trax Crossover was unveiled in the U.S. last year, and it will be assembled in GM’s Korean plant in Changwon, about 300 kilometers south of Seoul. The Trailblazer is being assembled in GM’s Bupyong plant, just west of Seoul.
This file photo provided by GM Korea shows the GMC brand’s Sierra Denali pickup.
In a two-track strategy, GM Korea sells domestically produced and imported vehicles in Asia’s fourth-biggest economy.
Its lineup is composed of one locally assembled model, the Trailblazer SUV, and five imported ones — the Colorado pickup, the Bolt all-electric car, and the Equinox, Traverse and Tahoe SUVs.
The Spark mini car, Trax compact SUV and the Malibu midsize sedan were part of the lineup, but the company stopped their production last year.
Most of the models currently sold in South Korea are from the Chevrolet brand. The Cadillac brand models are available here as well.
GM Korea plans to launch the GMC brand this year, with the Sierra Denali set to be released as the brand’s launch model in the Korean market.
For the whole of 2022, GM Korea’s sales rose 12 percent to 264,875 units from 237,044 a year earlier.
(Yonhap)
