General Motors Daewoo to become 'GM Korea'

General Motors (GM), the American automobile giant is working to further gain a better position in the major auto markets. For increasing its market share, the company has announced that it will change the name of its Korean company from GM Daewoo Auto & Technology Co to GM Korea. General Motors has also decided that it will roll out the major car models in the Chevrolet car brand.

As per the reports in the media it was disclosed that all the car models launched and the facelifted version of existing models this year will be sold under the Chevrolet car brand from Daewoo. The reports also revealed that the procedure for the changing of the name will take place by 31st March. The GM Broad of Directors nodded the decision on Thursday.

The reports further ushered that the reason behind company's decision of changing the name was to maintain the standard operations that are "globally consistent with all other GM country operations." Revealing further. the company stated some of the car models such as Alpheon, a big size saloon that will not be rolled out with the Chevrolet nameplate.

GM Daewoo spokesperson unfolded that GM Daewoo, third biggest auto manufacturer inSouth Korea after Hyundai Motors and Kia Motors, last year rolled out 751,453, and shipped 83 percent of those car models.  General Motors was founded after General Motors Detroit based company was taken over by Daewoo Motors, the automotive branch of Daewoo Group. The conglomerate was called off now due to financial reasons in South Korea in the year 1997-98 because of the Asian economic crisis.

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