Daewoo February Sales Down 2.9%

SEOUL, March 3,2003; Reuters reported that GM Daewoo Auto & Technology Co, South Korea's third-largest automaker, said on Monday sales fell three percent to 34,311 units in February from a year earlier.

Unlisted GM Daewoo said exports slipped to 22,642 units last month from 23,719 a year before. The auto maker gave no reason for the decline in sales and exports.

General Motors Corp the world's largest automaker, and partners acquired a majority stake in ailing Daewoo Motor Co last year and plan to produce around 400,000 automobiles this year, up around a third from 2002.