GM Daewoo Unveils New Models
In Korea, GM Daewoo Auto & Technology Co. recently unveiled its coming model lineup and outlined aggressive sales targets for this year and next.
Korea's third-largest automaker hopes to increase sales this year to about a million units after moving 900,084 vehicles last year. About 80 percent were sold overseas. It expects to sell more than 1.2 million next year.
To achieve the goals, the automaker will release eight new and revamped models over the next 15 months.
The new passenger car lineup includes the all-new Matiz, Korea's best-selling minicar, the Statesman, a luxury sedan sold in Australia by GM's affiliate Holden, and the company's first sport utility vehicle, code-named C-100, which will vie with Hyundai Motor Co.'s Tucson and Kia Motors Corp.'s Sportage.
The new Matiz will hit showroom floors in March. So far, about 1.3 million Matiz cars have been sold worldwide.
General Motors owns 42.1 percent of GM Daewoo. Its partners are Japan's Suzuki Motor with 14.9 percent and Shanghai Automotive Industry Corp. with 10 percent. Korean creditors of the bankrupt Daewoo Group, which collapsed in 1998, own the remaining stake in GM Daewoo.
Korea's third-largest automaker hopes to increase sales this year to about a million units after moving 900,084 vehicles last year. About 80 percent were sold overseas. It expects to sell more than 1.2 million next year.
To achieve the goals, the automaker will release eight new and revamped models over the next 15 months.
The new passenger car lineup includes the all-new Matiz, Korea's best-selling minicar, the Statesman, a luxury sedan sold in Australia by GM's affiliate Holden, and the company's first sport utility vehicle, code-named C-100, which will vie with Hyundai Motor Co.'s Tucson and Kia Motors Corp.'s Sportage.
The new Matiz will hit showroom floors in March. So far, about 1.3 million Matiz cars have been sold worldwide.
General Motors owns 42.1 percent of GM Daewoo. Its partners are Japan's Suzuki Motor with 14.9 percent and Shanghai Automotive Industry Corp. with 10 percent. Korean creditors of the bankrupt Daewoo Group, which collapsed in 1998, own the remaining stake in GM Daewoo.
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