[Concall] LG Electronics "GM Electric Vehicle Sales Shortage... Impact on LG Magna Q3 Earnings"

Kim Ju-yong, Executive Vice President of VS Management at LG Electronics, stated during the Q3 earnings conference call on the 24th, "In the recent Q3 GM IR, it was announced that GM's electric vehicle sales in Q3 were favorable," adding, "The numbers themselves appear to show a significant growth trend because the figures from the previous quarter and the previous year were quite small."

Executive Vice President Kim said, "From our perspective, sales are significantly below the supply quantity initially requested by GM," and added, "This aspect has been reflected in LG Magna's Q3 performance."

He continued, "However, as GM's new car lineup continues and sales of previously launched vehicles increase, LG Electronics views this as a positive signal," and said, "We hope GM's vehicle sales will bring vitality to the U.S. market, where the proportion of electric vehicles is low, and we look forward to better results."

LG Twin Tower, Yeongdeungpo-gu, Seoul [Image source=Yonhap News]