GM Daewoo

GM KOREA REGROUPS

After losing Europe as an export market, unit cuts output, eyes new markets

12:01 am U.S. ET | May 5, 2014
Sergio Rocha, the 35-year GM engineering veteran who runs GM Korea, has hustled to adjust to tough times for the automaker. The company compromised with unions on slowing output, implemented white-collar buyouts and is now eyeing new export markets such as Australia as substitutes for lost European sales. Rocha has also delivered record sales of 151,341 vehicles in Korea last year. GM now has a 10 percent share, making it the country's No. 3 player....
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After losing Europe, GM Korea eyes new markets

May 5, 2014 06:01 CET
When GM decided to pull Chevrolet from Europe, it saddled its Korean unit with 150,000 units of excess capacity. GM Korea is now eyeing new markets such as Australia as substitutes for lost European sales....
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