In efforts for Chevrolet to become a key global brand, General Motors Co. will be using the Chevy nameplate instead of the GM Daewoo name in South Korea. Ever since GM took over Daewoo in 2002, the name GM Daewoo Auto & Technology Co. has been in use. But GM has confirmed that the name will be phased out by the end of March.
In a statement, the company said that the new name will be GM Korea Co. The changeover will first be seen with the first-quarter launch of the Camaro, the first Chevrolet-badged entry in the South Korean market. There are eight new or refreshed Chevrolet models that are scheduled to be launched in South Korea this year.
The sports car is one of them. The other nameplates include the Spark and Aveo small cars, Cruze compact, Orlando small minivan and Capitva SUV.
Spokesman Park Haeho said that they have been studying the brand issue for a long time and they concluded that all stakeholders as well as Korean consumers will benefit from launching a new brand strategy and making Chevrolet its primary brand.
GM Daewoo has already been producing one of every four Chevrolet-branded vehicles sold globally. But it has stuck with the Daewoo badge in its domestic market as its Korean customers traditionally favor local brands. The last market to sell cars under the GM Daewoo banner is South Korea.