GM Daewoo To Halt Operations At 2 Plants For Up To 10 Days In March
February 25 2009 - 3:18AM
Dow Jones News
GM Daewoo Auto & Technology Co., the South Korean unit of
General Motors Corp. (GM), said Wednesday it will halt output at
two plants for up to 10 days in March to control inventory
levels.
The auto maker has been limiting production at its three plants
since Dec. 1 due to declining sales amid the global economic
downturn.
"Production at GM Daewoo's plants in the cities of Bupyeong and
Gunsan will be halted for up to 10 days next month but the Changwon
plant will be fully operational," the company said in a
statement.
The Changwon plant produces the popular fuel-efficient Matiz
mini car and the Damas and Labo commercial cars, while the other
plants manufacture sedans and sport utility vehicles.
GM Daewoo's overall vehicle sales plunged 56% in December and
51% in January from a year earlier.
As part of efforts to boost sales, GM Daewoo Tuesday began to
export the Lacetti Premiere sedan to Europe. The first shipment of
the 2,000 Lacetti Premiere cars will be sold under the name of
Chevrolet Cruze in about 30 European countries.
It had launched the 1.6-liter Lacetti Premiere gasoline sedan in
November and the 2.0-liter diesel model in February in the domestic
market.
"The two models and the 1.8-liter gasoline model will be
available in the European markets starting from March," said the
company.
-By Kyong-Ae Choi, Dow Jones Newswires; 822-2198-2236;
kyong-ae.choi@dowjones.com