GM Daewoo July 2003 Sales up 37%

SEOUL, Aug 1, 2003; Reuters reported that GM Daewoo Automotive and Technology Co, South Korea's third-largest auto maker, said on Friday its total sales in July rose 36.6 percent from a year earlier thanks to a resumption of exports to the key U.S. market.

GM Daewoo sold 48,555 vehicles in July versus 35,546 a year ago, while exports surged 92.4 percent over the same period to 32,272, the auto maker said in a statement.

General Motors Corp, and partners took a majority stake in some of the assets of Daewoo Motor last year, creating the unlisted GM Daewoo.

The former Daewoo Motor Co halted U.S. exports in 2001 due to financial difficulties.