SEOUL -- General Motors is replacing the Daewoo name with the Chevrolet brand in South Korea, in what amounts to a test of GM's strategy for overseas expansion.
GM's Korea unit, formerly known as GM Daewoo Auto & Technology Co., changed its name to GM Korea Co. this year. And on March 1 it began flooding local showrooms with cars bearing the Chevy bow tie and squeezing out remnants of Daewoo inventory.
Sales have boomed since the changeover.
Chevrolet sales were expected to hit 12,000 units in March, compared with a monthly average of 8,000 for the Daewoo brand in the first two months of the year, said Ankush Arora, vice president of sales for GM Korea. GM still trails hometown favorites Hyundai and Kia. But GM is targeting double-digit market share this year, compared with 8.1 percent in 2010.
Chevrolet's Korea debut is part of GM's effort to position the line as its global mass market brand. The result will be a test of Chevy's ability to tap new markets following GM's quick-rinse bankruptcy in 2009.