8.7.2004
GM Daewoo continues solid growth in Europe

GM Daewoo has accelerated its growth in the European passenger car market. In the first six months of 2004, the company sold over 93,000 vehicles compared with 61,000 in the same period last year, an increase of over 51 percent.

The company's market share in Europe went up from 0.61% to 0.87% in this first half year. In June alone, GM Daewoo's share of the European market exceeded one percent.

In the first six months of this year, Italy was the strongest market for GM Daewoo in Europe with 16,400 sales, closely followed by Spain, where sales increased by 55 percent to reach 15,700 units. In Germany, 8,100 vehicles were sold in the first six months, an increase of over 72 percent over the same period last year.

In addition to these established sales companies, several of GM Daewoo's start-up operations achieved excellent results. GM Daewoo UK, for example, gained momentum by selling 9,100 units, 61% more than in the same period last year. In Finland and Sweden, two other start-up operations, sales increased by almost 200% and 300 % respectively.

At the same time, GM Daewoo's global sales in the first half of the year amounted to almost 430,000 units, rising 91 percent from the same period last year. The company's January to June exports from Korea soared by as much as 139 percent to over 380,000 units.