GM Daewoo Auto & Technology Co said on Monday that studies on launching a large passenger car and sport utility vehicle (SUV) in South Korea were at an advanced stage, according to Reuters.

“We are not in two important segments (in South Korea), large passenger cars and SUVs”, Nick Reilly, GM Daewoo president and chief executive, told a news conference unveiling the automaker’s latest car, the Lacetti small-to-mid-sized passenger car, Reuters reported.

“We are doing studies that are quite advanced,” Reilly added, according to Reuters.

Reuters said that GM Daewoo vice president of sales and marketing told reporters that total sales of the Lacetti model were expected to be a maximum of 80,000 units in 2003.

According to Reuters, Batey said the company would start to market the Lacetti, which will be known as the new Nubira for export, in the United States around the end of next year, while sales in western Europe would start in 2003.