GM Passes Kia In South Korean Market
GM Daewoo, a subsidiary to American General Motors, took the lead in South Korea against Kia Motor Corp. as it sold more cars in 2005 than its rival.According to sales figures released by both companies, GM Daewoo sold over 1.50 million vehicles worldwide compared to Kia, which sold over 1.30 million. GM Daewoo, which was acquired by GM in 2002, saw sales rise domestically in South Korea last year by 19.2 percent while exports also rose by a staggering 33.1 percent. Our take? Look for 2007 to be a repeat as GM continues to rely on its subsidiary to manufacture inexpensive vehicles like the compact Chevrolet Aveo and the Captiva SUV which, through the Opel Antara (pictured), will land on U.S. shores as the upcoming Saturn Vue. Via Yonhap News
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