GM Daewoo Auto & Technology (GM Daewoo) announced on Friday that it sold a record 507,910 vehicles worldwide in the first half of 2005.

Buoyed by strong demand for its products around the world, the Incheon-based vehicle maker’s sales rose 17.7 percent on an annual basis, taking first-half sales past the 500,000-unit mark for the first time since the company’s establishment in 2002.

“We have enjoyed a positive response from consumers to our new models as well as to our existing portfolio of products in the more than 150 markets for which GM Daewoo develops and manufactures vehicles,” said Nick Reilly, President and CEO of GM Daewoo.

GM Daewoo rolled out the third generation of the Matiz mini-car in February. Its first large car, the Statesman, went on sale in June. GM Daewoo also launched a new member of its Lacetti intermediate car family, the Lacetti 1.6 Platinum.

Total exports of GM Daewoo vehicles grew 19.6 percent on an annual basis to 454,472 units. Exports of complete vehicles rose 10.6 percent to 244,654 units, while exports of knockdown (KD) kits increased 32.1 percent to 209,818 units. Sold in many markets as the Chevrolet Aveo, the Kalos is GM Daewoo’s most successful global complete vehicle and among the world’s top entry-level small cars.

GM Daewoo’s domestic sales in the first half rose 3.5 percent to 53,438 units. The increase was attributed primarily to the Matiz, whose sales have remained brisk throughout the year. GM Daewoo also received a boost from fleet sales and the expansion of its nationwide network of test-drive centres.

On a monthly basis, GM Daewoo sold 94,727 vehicles in June. This represented an increase of 22.8 percent from the same month last year.

Exports in June were up 23.5 percent from the same month last year to 85,371 units, led by a 9.0 percent increase in exports of finished vehicles to 41,120 units and a 41.0 percent increase in exports of KD kits to 44,251 units. Domestic sales rose 16.3 percent from June 2004 to 9,356 units.

“GM Daewoo will benefit in the second half from the entry into new markets such as Australia and New Zealand and the introduction of new models including a successor to the Kalos notchback. In addition, we expect the Korean market to gain momentum after a protracted period of flat sales,” Reilly said. “As a result, GM Daewoo remains on track to achieve its long-term goal of selling more than 1 million vehicles in 2005.”

In addition to expanding its product lineup, GM Daewoo also has continued expanding its facilities and growing its presence in Korea. It has begun construction of its new diesel engine plant in Gunsan, which is scheduled to start production of a new family of Euro IV-compliant 1.5-litre and 2.0-litre common rail diesel engines early next year. It also will construct an automotive test track as a vehicle proving ground in Incheon that will be completed and ready to begin operation in mid-2007.

As part of its ongoing commitment to Korea as a good corporate citizen, GM Daewoo established the GM Daewoo Employee’s Foundation in May. The new organisation is supporting the vehicle maker’s charitable and philanthropic activities and those of its employees in local communities across the country.

GM Daewoo Auto & Technology has five manufacturing facilities in Korea as well as an assembly facility in Vietnam. GM Daewoo products are also assembled at GM facilities in China, Thailand, India, Colombia and Venezuela. In 2004, GM Daewoo sold over 900,000 units. Imported GM products from the Cadillac and Saab premium brands are sold in Korea through GM AutoWorld retailers.

The GM Daewoo built Holden Barina will be released in Australia during the 3rd quarter of 2005. It will be available in 3-door and 5-door hatchback bodystyles.