General Motors’ South Korean unit, Daewoo, has extended production cuts at its Bupyeong, South Korea, plant, located near Seoul. The plant will be shut down from December 1 through January 4, three weeks longer than the automaker had previously intended, in response to rapidly diminishing global demand for new cars.
The Bupyong plant produces the Chevrolet Aveo and the new Pontiac G3 for the North American market, among other similar vehicles sold across the world. Annual production at that facility was nearly 500,000 cars last year. Though demand for small, fuel efficient cars is predicted to remain fairly strong, GM’s financial turmoil dictated the need to shut down production for a period.
Previously, GM had said it would shut down the plant from December 22 through January 4.
