Hyundai's facing stiffer competition on its local car market. GM-Daewoo plans 8 new models for next 12 months.
GM-Daewoo announced it plans to unveil 8 new models in Korea over the span of next 12 months. The third-largest Korean carmaker is planning to completely renew its current model line-up, which consists of eight passenger cars and two commercial vehicles.
The automaker will invest more than $5 billion to renew and launch 8 new models. With this huge investment, GM-Daewoo wants to lift its sales by 20 percent and push up its domestic market share into double digits this year.
The South Korean carmaker will launch new Alpheon sedan, rebadged Chevrolet Orlando and a completely new small hatchback model that will replace the current Gentra X. It will also unveil a revamped mid-size sedan, replacing Daewoo Tosca, new Lacetti Premiere and Winstorm crossover vehicle.
The legendary Chevrolet Camaro, already on sale in the U.S. market, is also expected to hit the Korean shores. GM Daewoo plans to start selling the rear-wheel-drive sports car in Korea sometime next year.
At the up-coming Paris Auto Show, Chevrolet is going to unveil a new 5-door Cruze hatchback. The more pracical model to the four-door sedan will also appear in Korean showrooms soon, according to GM-Daewoo.
The above-mentioned plan could hurt Hyundai sales, but the South Korean largest automaker has an answer, and that is, launching new cars as well. There are new Veloster, Elantra, Sonata hybrid and Azera mid-size sedan waiting to hit the market within a few months. So, let's the game begin.