[THE INVESTOR] General Motors aims to sell 2,500 Cadillac cars this year in Korea as local customers’ appetite for luxury vehicles is growing, GM Korea said on Jan. 19.

The annual target is up 25 percent from the 2,008 Cadillac cars sold last year. In 2016, GM saw Cadillac vehicle sales soar 83 percent on-year to 1,103 units, GM Korea President & Cadillac Representative Director Kim Young-sik said in a press conference.

GM owns a 70.12-percent stake in GM Korea. Cadillac is GM’s luxury sub-brand, which competes with German rivals such as BMW and Mercedes-Benz.

GM Korea sold a total of 524,547 Chevrolet units last year, down 12 percent from 597,165 a year ago.

By Alex Lee and newswires (alexlee@heraldcorp.com)