March Sales: Korea's GM Daewoo fall 2.5%

SEOUL, April 1, 2003; Reuters reported that GM Daewoo Auto & Technology Co, South Korea's third-largest automaker, said on Tuesday sales fell 2.5 percent to 37,162 units in March from a year earlier.

Unlisted GM Daewoo said exports slipped 5.3 percent year on year to 23,260 units last month. The auto maker gave no reason for the decline in sales and exports.

General Motors Corp, 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.