GM Generali

Generali (AQEU:GM)
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GM Daewoo Auto & Technology Co., the South Korean unit of General Motors Corp. (GM), said Wednesday it will halt output at two plants for up to 10 days in March to control inventory levels.

The auto maker has been limiting production at its three plants since Dec. 1 due to declining sales amid the global economic downturn.

"Production at GM Daewoo's plants in the cities of Bupyeong and Gunsan will be halted for up to 10 days next month but the Changwon plant will be fully operational," the company said in a statement.

The Changwon plant produces the popular fuel-efficient Matiz mini car and the Damas and Labo commercial cars, while the other plants manufacture sedans and sport utility vehicles.

GM Daewoo's overall vehicle sales plunged 56% in December and 51% in January from a year earlier.

As part of efforts to boost sales, GM Daewoo Tuesday began to export the Lacetti Premiere sedan to Europe. The first shipment of the 2,000 Lacetti Premiere cars will be sold under the name of Chevrolet Cruze in about 30 European countries.

It had launched the 1.6-liter Lacetti Premiere gasoline sedan in November and the 2.0-liter diesel model in February in the domestic market.

"The two models and the 1.8-liter gasoline model will be available in the European markets starting from March," said the company.

-By Kyong-Ae Choi, Dow Jones Newswires; 822-2198-2236; kyong-ae.choi@dowjones.com