In a bid to enhance its presence and bolster sales operations in Korea, GM Daewoo Auto and Technology Co. is changing its name to GM Korea and selling the majority of its models under the Chevrolet brand.
The move, which makes the operation consistent with all other GM country operations, is expected to be completed by the end of this year’s first quarter.
“This important new brand strategy is designed to strengthen our commitment to the Korean market, recognizing it as one of the strongest-performing countries within GM’s global operations. We are well positioned to bring one of the world’s iconic brands to Korea,” said Mike Arcamone, president and CEO of GM Daewoo.
“We cannot afford to sit still, and instead, choose to make a bold move with the launch of Chevrolet in Korea.”
The automaker went on to say it would begin its “most aggressive” vehicle launch plan in its history and will have an all-new product lineup with the introduction of eight new models carrying the Chevrolet name.
The portfolio includes the Chevrolet Camaro, Chevrolet Orlando, the Chevrolet Aveo global small car, as well as a new SUV and a new premium midsize sedan.
“Not only are we giving Korean consumers more vehicle choices than ever before, but in order to ensure Chevrolet’s long-term success in the domestic market, we are totally redesigning our dealerships, A/S networks and sales networks so that customers will be able to enjoy Chevrolet’s award-winning dealership experience and service,” said Arcamone. “Our main goal is to achieve the highest levels of customer satisfaction and loyalty.”
GM sales increased 20 per cent in Korea last year with domestic market share jumping double-digits.
According to GM, a Chevrolet was sold somewhere in the world every 7.4 seconds in 2010. Last year, more than 4.25 million Chevrolets were sold around the globe, and currently one out of every four Chevrolet vehicles is manufactured in Korea.
GM Daewoo Auto and Technology was established in 2002 and runs five manufacturing facilities in Korea as well as an assembly facility in Vietnam.
In addition, GM Daewoo provides market and brand-specific vehicle kits for assembly at GM facilities in China, Thailand, India, Colombia and Venezuela. 2010, GM Daewoo sold in Korea and exported more than 1.7 million units, including CKD products.
GM Daewoo now produces vehicles and kits that are offered in more than 150 markets on six continents.