GM Will Launch Chevrolet Marque in Korea
In a move aimed at expanding the worldwide scope of its best-selling brand and reinforce its position in a key Asian market, General Motors plans to start selling Chevrolet-badged vehicles in Korea starting in 2011. The announcement was made at the Busan International Motor Show by GM Daewoo Auto & Technology President and CEO, Mike Arcamone.
"The introduction of Chevrolet will enable us to provide our customers an array of exciting new vehicles from the brand's global lineup, giving them more driving options," said Arcamone. "This will help GM Daewoo increase our sales and share in the domestic market while generating additional revenue, strengthening our employees' job security, creating new jobs and resulting in additional investment in Korea. We regard it as a key to our long-term success." He also addressed concerns about the future status of GM's partner by stressing this strategic move was one of "brand coexistence and not replacement."
In the company of a new Chevrolet Camaro, Arcamone indicated that GM research showed that over half of all Koreans are already familiar with the brand and more than 80 percent are aware of the signature "Bowtie" logo -- both seen as huge in-place upsides to the 2011 launch effort. Last year, Chevrolet sold 3.3 million vehicles in 130 different countries, an accomplishment that made it the fourth most popular passenger-car brand in the world.