CHEVROLET will strengthen its global growth strategy with the introduction of a new range of small, compact and midsize vehicles in the UK and throughout Europe, beginning in January 2005.
Initially the product will be developed for Europe by GM Daewoo Auto and Technology Company Ltd (GM DAT) in South Korea but over time additional models will be introduced from other facilities with GM's worldwide manufacturing network. This reflects GM's strategy to increasingly position Chevrolet as its affordable entry brand for developed markets and a volume mainstream brand for emerging markets.
Chevrolet cars built by GM DAT are already sold in several markets in Central and Eastern Europe, in North and South America, in several Asian markets and South Africa. Sales of these Chevrolet cars have exceeded expectations. Ongoing investments in the South Korean operations of 1.5 billion US Dollars underline GM's confidence in GM DAT's design, engineering and manufacturing capabilities.
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