GM Daewoo is expecting to sell 1.5 million vehicles or more this year, according to Reuters.

This compares with 410,000 vehicles in 2002, when GM took control of Daewoo, and 1.15m units in 2005.

President and CEO of GM Daewoo Automotive and Technology , Nick Reilly, told Reuters that GM Daewoo’s exports have quadrupled over the last three years to 1m vehicles in 2005.

GM Daewoo has previously operated mainly in the compact car market but this year launches its first SUV. The company hopes to sell 140,000 units of its new Chevrolet Captiva/Opel/Vauxhall/Holden Antara in its first year.

GM Daewoo has not recovered its share of the domestic market and, according to Reilly, is expected to sell between 130,000 adn 150,000 cars this year, giving it a market share of 9%.