In recent weeks speculation has arose that General Motors Company would be launching the Chevrolet brand in South Korea. In an effort to simplify the company's global product portfolio, New GM is looking to make Chevrolet a true global brand like rivals Ford Motor Company and Toyota. GM Daewoo Auto & Technology President and CEO Mike Arcamone made the announcement today at a press conference held in conjunction with the opening of the Busan International Motor Show that Chevrolet would be sold in Korea.
“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 market 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.”
In conjunction with the announcement GM Daewoo also stated that the Chevrolet Camaro will go on sale in Korea sometime in 2011 to launch the Chevrolet brand in the region.
“According to our market research, half of all Koreans are familiar with the brand and more than 80 percent are aware of Chevrolet’s distinctive logo,” said Arcamone. “This is indicative of the positive brand image that already exists among consumers in Korea toward Chevrolet. We see tremendous upside with its introduction.”
GM claims that 44% of their total volume in 2009 was from the Chevrolet brand globally.
“GM is bringing the new brand to Korea to enhance our presence in the domestic market,” said GM International Operations President Tim Lee. “Last year, 3.3 million Chevrolet vehicles were sold in 130 markets worldwide, making it the fourth most popular passenger car brand globally.”
Source :gminsidenews
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