GM Vietnam’s new engine for growth

Global automaker General Motors today announced its unit in Vietnam – Vietnam Daewoo Motor Company to change its name to GM Vietnam.

GM Vietnam is also aligning its operations to make Chevrolet itsretail brand.

“The changes represent a new beginning for General Motors in Vietnam in line with our new corporate strategy,” said GM Vietnam managing director Gaurav Gupta. “We look forward to leveraging GM’s unmatched global resources to introduce high-quality new products and services that will enable consumers across the country to enjoy Chevrolet’s award-winning shopping and ownership experience.”

Gupta added: “In addition to benefiting our customers, the changes will benefit our employees, partners and the nation’s economy. This demonstrates the importance of Vietnam to GM and our company’s commitment to growth in this market.”

Vietnam Daewoo Motor Company known as Vidamco was established by the former South Korea’s Daewoo Motor in 1993. The company becamepart of GM in 2002 and currently has nearly 600 employees.

With its manufacturing facility in Hanoi, which began operation in 1995, GM Vietnam has an annual assembly capacity of 20,000 vehicles for sale in Vietnam and for exports. It operates a nationwide sales network with 20 dealers, 22 showrooms and upgraded after-sales service centers in major cities of Hanoi and Ho Chi Minh City.

GM’s sales of Chevrolet products in Vietnam in the firsteight months of 2011 increased 40 per cent year on year. GMVietnam has maintained its second-place position among foreign invested automakers in the country.

Gupta said that GM Vietnam planned to launch multiple new Chevrolet products later this year while it would also upgrading its dealer network, showrooms and service centers to global Chevrolet standards.

Owners of Daewoo products will continue to receive full warranty coverage as well as aftersales service and spare parts throughGM Vietnam and dealer-owned service centers, he said.

Founded in 1911 and named after famous Swiss-born race car driver Louis Chevrolet, Chevrolet is one of GM’s four core brands and its largest brand. Last year, more than 4.25 million Chevrolet vehicles were sold in more than 130 countries around the world. The Chevrolet brand accounts for 53 per cent of GM’s overall sales and is one of the world’s fastest-growing vehicle brands.

Chevrolet provides consumers with fuel-efficient, safe and reliable vehicles that deliver high quality, expressive design, spirited performance and value. The Chevrolet portfolio includes iconic performance cars such as Corvette and Camaro; dependable, long-lasting pickups and SUVs such as Silverado and Suburban; and award-winning passenger cars and crossovers such as Spark, Cruze, Malibu, Equinox and Traverse. – VIR

Tags: GM Vietnam, Vietnam automotive, Vietnam automotive industry, Vietnam autos market