The US based leading car maker General Motors has decided to phase-out the long held Daewoo name from its global product portfolio by March 2011. According to new arrangement, the Daewoo will continue to exist but with a different name – GM Korea. The product line-up of Daewoo will then be sold under Chevrolet brand.
The current GM portfolio models that are sold under GM Daewoo brand include Matiz, Lacetti, Winstorm and Daewoo Tosca. Most of these models have bcome available in new generation models in the Indian market under brand Chevrolet. While the Chevrolet Spark can be considered a successor to the Matiz, the Lacetti is the Chevrolet Cruze for our market.
As per a recent statement given by Mike Arcamone, President and CEO of GM Daewoo, "Changing our corporate name will increase our standing within GM globally while demonstrating our commitment to growing locally."
"With the significant changes that we are announcing today, our goal is to increase our domestic sales and market share, generate additional revenue, strengthen our relationship with the customers, create new jobs and expand our presence in Korea. We regard these moves as a key to our long-term success and fundamentally believe they will also bring added benefits to our customers and the Korean economy," Mr. Arcamone said.
