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GM kills Korea's Daewoo badge

2011-01-21 08:06

MADE IN KOREA: GM Daewoo is a global competence centre for GM's small cars.

General Motors, in its quest to position Chevrolet as a global brand, is changing the South Korean GM Daewoo brand and badging cars there as Chev instead.

GM said in a statement the name GM Daewoo Auto and Technology would be changed to GM Korea in line with the company’s operations in other countries by the end of the first quarter of 2011.

Mike Arcamone, president and CEO of GM Daewoo, said: “This new growth opportunity will allow us to compete in new segments and offer our customers more choices than before, resulting in a strong future for our company, our employees and our sales agents.”

And the new company immediately goes on the product offensive with the launch of eight models in 2011 bearing the Chevrolet Bowtie.

ONE IN FOUR

Where GM Daewoo has played a major role in the design, engineering and manufacturing of cars such as the Cruze and the new Spark and Aveo, the expanding profile will include a number of exciting new products as well. Chevrolet’s Camaro, Orlando MPV, Captive SUV and “a new premium midsize sedan” are on the billing for 2011.

“Chevrolet has enjoyed success in mature markets in North America and Europe, as well as in emerging markets such as Asia Pacific, Africa and Latin America” Arcamone said. “We are confident our customers in Korea will embrace Chevrolet as well.”

About 4.25-million Chevrolets are sold around the globe annually and the brand constitutes 53 percent of GM’s business, the company said. Currently one of every four Chevrolet vehicles is assembled in South Korea, although locally the country was the last to badge its cars Daewoo.
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