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April 12, 2005

AUSTRALIA: Daewoo returning under new nameplate

Having earlier dropped the Daewoo brand from Australia, General Motors has now announced its Holden operation will begin importing vehicles from the South Korean GM-Daewoo operation (GMDAT) later this year.

Having earlier dropped the Daewoo brand from Australia, General Motors has now announced its Holden operation will begin importing vehicles from the South Korean GM-Daewoo operation (GMDAT) later this year.

As he launched the Holden-made GM Daewoo Statesman to Korean press in Melbourne, Holden chairman and managing director Denny Mooney said Korean-sourced products would further enhance two-way trade between Holden and GM Daewoo.

Mooney said Holden would begin receiving GM Daewoo products in the second half of the year, with nameplate and timing details to be released later in 2005.

“Holden can take advantage of GM’s South Korean capability in design, development and manufacturing to expand its portfolio later this year,” Mooney said.

Holden already exports vehicles and four-cylinder engines to Korea. The decision to import cars in return will strengthen the relationship between two of GM’s key family members in the Asia Pacific region.

“Both organisations are successful in their home markets and successful exporters. There is a tremendous relationship growing stronger by the day,” he said.

“GM Daewoo designs, develops and manufactures high quality vehicles for a number of brands around the world. Those cars compete against the best of the best around the world and in every market they have entered they have been successful.”

Mooney, a member of the GM Daewoo board, said Australian influences on the GM Daewoo vehicles would be strong.

“We have design personnel located in Korea and Holden engineering will be involved in areas such as chassis and engine performance. The GM Daewoo sourced vehicles will offer great value, high quality and the excitement Australian customers expect from Holden.”

GM Daewoo president and CEO Nick Reilly said Holden was a premier brand in Australia and to have product sourced from GM Daewoo and be part of the Holden family was a real honour.

“We are equally pleased to have product sourced from Holden as part of the GM Daewoo family in Korea. We think the Statesman will be a great addition to our product line up,” Reilly said.

GM Daewoo vehicles are sold under the Daewoo brand in Korea; Chevrolet in parts of Asia Pacific, Europe, North America and Latin America; Buick in China; and Pontiac and Suzuki in North America.

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