SOUTH KOREA: Daewoo exports resume to US and Canada with Suzuki and Chevrolet branding - report

SOUTH KOREA: Daewoo exports resume to US and Canada with Suzuki and Chevrolet branding – report

GM Daewoo Automotive & Technology Co said on Friday it had re-started exports to the United States, resuming shipments halted in 2001 when the former Daewoo Motor Co was in financial trouble, Reuters reported. GM Daewoo shipped 300 mid-sized Magnus sedans to the United States on Friday, while another 2,250 of them are to be shipped to the US and Canada later this month, the car maker said, according to Reuters which noted that top South Korean car makers have been stepping up exports this year to compensate for sluggish domestic sales due to a slowing economy.

bcusack July 11, 2003

GM Daewoo shipped 300 mid-sized Magnus sedans to the United States on Friday, while another 2,250 of them are to be shipped to the US and Canada later this month, the car maker said, according to Reuters which noted that top South Korean car makers have been stepping up exports this year to compensate for sluggish domestic sales due to a slowing economy.

GM Daewoo is projecting exports of more than 3,000 Magnus sedans to the US and Canada each month from September, spokesman Hwang Nam-chul told Reuters. The sedans would be sold as the Suzuki Verona in the US and as the Chevrolet Epica in Canada, Hwang reportedly added.