GM Daewoo idling plants in S. Korea after sales collapse

SEOUL, Feb. 3 (Yonhap) -- The South Korean unit of General Motors Corp. said Tuesday it is shutting down plants here this month, following a collapse in January vehicle sales.

Production at GM Daewoo Auto & Technology Co.'s plants in the city of Bupyeong,
near Seoul, and Gunsan, 274 kilometers southwest of Seoul, will cease temporarily
by the end of this month, said company spokesman Kim Sang-won.
"We are taking a temporary measure to cut down production to cope with market
conditions," Kim said.
The spokesman declined to say how many days GM Daewoo plan to shut down the
production lines.
A local news report, citing an unidentified GM Daewoo official, said the company
would close the No. 2 plant in Bupyeong for 22 days this month. The plant
produces Winstorm sport-utility vehicles and Tosca sedans.
The No. 1 plan in Bupyeong, which builds Gentra compact cars, will be closed for
eight days, according to the report.
On Monday, GM Daewoo said its vehicle sales plunged 50.5 percent last month to
45,842 vehicles.
Domestic sales fell 20.4 percent to 6,914 units and exports plummeted 53.6
percent to 38,928 units, according to the company.
The unlisted GM Daewoo, the third-largest carmaker in South Korea, was set up in
2002 when GM and its partners took a majority stake in the automobile unit of the
bankrupt Daewoo Group, which collapsed in 1998.