Chevrolet heading to Korea
General Motors >
2nd May, 2010
Chevrolet, General Motors number one global vehicle brand, will
be introduced in Korea in 2011. GM Daewoo Auto & Technology President and CEO Mike Arcamone made the
announcement at a press conference held in conjunction with the opening of the Busan Motor Show.
“The introduction of Chevrolet will enable us to provide our customers an array of exciting new vehicles
from the brand’s global line-up, 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.”
As an example of the products that Korean consumers can expect, GM Daewoo introduced the new Chevrolet
Camaro at its motor show stand. The sports car will go on sale in Korea in 2011.
“According to our market research, half of all Koreans are familiar with the brand and more than 80
per cent 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.”
Arcamone also emphasised that the announcement is about brand coexistence, not brand replacement. “Our
decision to launch Chevrolet is in the best interest of GM Daewoo and Korea,” he said.
Founded in 1911 and named after the race car driver Louis Chevrolet, Chevrolet is one of GM’s remaining
four North American brands after the dropping of Oldsmobile, Pontiac, Saturn and Hummer following GM's massive
financial problems just prior to the recent global financial crisis. Last year, Chevrolet accounted for 44 per
cent of GM’s global sales and registered a 21 per cent increase in sales from the previous year. Daewoo
products are branded as Chevrolets in many markets, hence the success of Chevrolet is heavily linked to the
success of Korea's Daewoo.
“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.”