The Korea Herald reports that GM Daewoo Auto & Technology Co. (GMDAT) will embark on a full-scale export drive in the second half of next year, targeting the Chinese market. In the longer term, the company plans to sell cars in Japan through Suzuki.
The newspaper reported remarks made by Nick Reilly, president and CEO of GM Daewoo at the company’s inaugural press conference.
Reilly said that the new joint venture between General Motors and Daewoo Motor creditors is to make inroads into China through cooperation with a GM Daewoo shareholder and local GM partner, Shanghai Automotive Industry Corp.
In the longer term, GM Daewoo will also enter the Japanese auto market through Suzuki Motor, a GM affiliate, though detailed marketing strategies yet to be worked out, Reilly said, according to the report.
He also said that GM Daewoo is expected to grow market share and turn a profit in ‘two to three years’ according to the Korea Herald.
“On the export front, GM Daewoo will strive to recover its overseas sales by fully taking advantage of the GM family’s vast global networks of sales, brands and manufacturing facilities,” said Reilly reportedly at the inaugural press conference. He added: “In China, for instance, Shanghai Automotive plans to sell some of GM Daewoo vehicles in China. Daewoo’s high-performance and low-priced car models will surely appeal to Chinese consumers.”
The newspaper report added that he said that there will be little possibility of Suzuki and Shanghai Automotive advancing into Korea’s auto market. He also said that “most GM Daewoo cars will be designed and built in Korea,” suggesting that platform sharing between GMDAT and other GM arms in the future would be limited.
The report also said that in the middle of November, the new carmaker is set to roll out a 1.5 litre passenger car codenamed J-200.