Korean Success Story

In a rare success story for Detroit automakers in recent years, GM executives have shown how to make an acquisition of a money-losing operation work in Korea. GM Daewoo sold 1.89 million vehicles last year around the globe, including those shipped as kits for assembly in local markets. The sales, up from 1.53 million in 2006, represented about 20% of GM's global production last year. GM Daewoo accounted for more than half of the 1.84 million vehicles sold under the Chevrolet badge outside North America last year, and the unit has shipped more than two-thirds of GM cars sold in China in the form of kits in recent years.