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Chevrolet heading to Korea

Chevrolet Camaro (GM copyright image)

Chevrolet Camaro

Home > News > General Motors > Chevrolet

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.

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“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.

About Chevrolet

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.”


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