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(LEAD) GM Daewoo debuts LPG-powered Spark mini car in S. Korea
SEOUL, Feb. 24 (Yonhap) -- GM Daewoo Auto & Technology Co., the local unit of U.S. automaker General Motors Co., said Wednesday it will begin sales of a liquefied petroleum gas (LPG) version of the compact Chevrolet Spark next week in South Korea, where the company is struggling to boost sales.
The revamped version of the Chevrolet Spark, which is sold under the name Matiz Creative here, is fitted with an LPG-fueled engine and automatic transmission, the company said in a statement.
The revamped car can travel 13.6 kilometers per liter, according to the statement.
GM Daewoo Vice President Rick LaBelle placed high hopes on the LPG version of Spark in the Korean market.
The LPG-fueled Spark "will guarantee a much broader appeal for consumers who choose small cars," LaBelle said in the Korean-language statement.
GM Daewoo has no plan to sell the LPG-powered Spark overseas, because South Korea is one of only a few countries using LPG as fuel for cars.
In South Korea, the LPG-powered Spark retails from 10.4 million won (US$8,986) to 12.26 million won, depending on accessories.
Last year, GM Daewoo saw its vehicle sales drop 34.4 percent from a year ago to 578,758 units.
The sharp decline in 2009 sales came as GM Daewoo is grappling with precarious liquidity conditions as its U.S. parent emerged from bankruptcy protection in mid-2008.
Domestic sales at GM Daewoo fell 1.4 percent last year to 114,846 units, while exports plunged 39.4 percent to 463,912 units, the company said earlier.
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