General Motors aims to sell about 500,000 Chevrolet models produced by its South Korean venture per year in Asia-Pacific markets by 2007.
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John Middlebrook, GM’s vice president and general manager of vehicle brand marketing and corporate advertising, told the Korea Times the automaker plans to sell four million Chevrolets worldwide this year. GM Daewoo Auto & Technology Co. will produce between 12 and 15% of the targeted sales, he said.
“The Asia-Pacific market is expected to emerge as the most important market for GM within seven years,” Middlebrook said during a news conference in Seoul. “Chevrolet will be GM’s best brand in the Asia-Pacific market.”
GM will keep the Daewoo brand name in the South Korean market, the executive said, according to the paper.
The automaker hopes to increase sales this year to around a million units after moving past 900,084 vehicles last year. About 80% were sold overseas.
GM Daewoo officials said it will increase exports by 12 to 15% and domestic sales by as much as 14%. It expects to sell more than 1.2 million units next year. To achieve these goals, the automaker will release eight new and revamped models over the next 15 months, the officials told the Korea Times.
