After years of importing cars to the U.S. from its Daewoo unit, General Motors is getting ready to turn the tables around as the Detroit automaker will soon start exporting vehicles to South Korea (albeit, at a much slower pace..).
At a press conference today held in conjunction with the opening of the Busan International Motor Show, GM Daewoo Auto & Technology President and CEO Mike Arcamone announced that the firm will introduce its Chevrolet brand into South Korea in 2011.
"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."
One of the first models to arrive in South Korea will be the automaker's "halo car", the new Camaro.
Despite the fact that the two brands share many models (e.g. the Cruze and the forthcoming Aveo and Spark) while in Europe, Daewoos are sold as Chevrolets, according to Arcamone, today's announcement is about "brand coexistence, not brand replacement."
"Our decision to launch Chevrolet is in the best interest of GM Daewoo and Korea," said Arcamone.
"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. This is indicative of the positive brand image that already exists among consumers in Korea toward Chevrolet. We see tremendous upside with its introduction," he added.
