ID :
77073
Wed, 08/26/2009 - 17:29
Auther :
Shortlink :
https://www.oananews.org//node/77073
The shortlink copeid
GM Daewoo likens Spark minicar to iPod
By Kim Deok-hyun
CHANGWON, South Korea, Aug. 26 (Yonhap) -- The South Korean unit of General Motors Corp. said Wednesday it is confident the Spark minicar will have broad appeal worldwide, likening the new model to the popular digital music player iPod by Apple Inc.
GM Daewoo Auto & Technology Co. will start selling the four-door Spark in South
Korea from next month, the first step by GM to release it in more than 150
countries. In South Korea, the Spark will be sold under the name of Matiz
Creative.
The Spark, which GM Daewoo officials say will hit U.S. showrooms in 2011,
highlighted GM's efforts to focus on small cars as the U.S. auto giant is
escaping bankruptcy protection after painful restructuring.
"Like the iPod, the Matiz Creative will become a cultural icon," Rick Labelle,
vice president of GM Daewoo, told reporters at the company's plant in the city of
Changwon, about 398km southeast of Seoul.
"We want the Matiz Creative to be the choice for those who see value more than
money," said LaBelle, describing the new model "emotionally engaging, stylish and
expressive."
In South Korea, GM Daewoo said the Spark is already creating buzz with more than
5,000 customers signing pre-sale orders.
Equipped with a 1.0 liter gasoline engine and a four-speed automatic
transmission, the Spark gets 17km to one liter of gas, GM Daewoo said.
"In developing the global mini-car, we considered every possible road condition
in the world and tested the vehicle accordingly," Jack Keaton, a senior executive
in charge of GM's global minicar program, said in a statement.
Keaton said the Spark will provide "driving characteristics and ride and handling
that are second to none in its segment at home and abroad."
The price of the new model varies from 9.06 million won (US$7,265) to 10.89
million won, depending on accessories, in South Korea.
GM Daewoo, which exports more than 80 percent of its cars under the GM brand, has
been hit hard by its U.S. parent's troubles.
In the first seven months of this year, GM Daewoo sales plunged 47.4 percent to
306,073 units, excluding kits.
Currently, GM Daewoo is struggling with its own liquidity crunch, which the
company says is "critical," and has been in talks with South Korea's state-run
Korea Development Bank for 1one trillion won in emergency loans.
The talks have reportedly faltered on GM's refusal to offer part of its GM Daewoo
stake as collateral, as requested by the South Korean bank.
GM acquired GM Daewoo in 2002 from the then bankrupt Daewoo Motor Co.
(END)
CHANGWON, South Korea, Aug. 26 (Yonhap) -- The South Korean unit of General Motors Corp. said Wednesday it is confident the Spark minicar will have broad appeal worldwide, likening the new model to the popular digital music player iPod by Apple Inc.
GM Daewoo Auto & Technology Co. will start selling the four-door Spark in South
Korea from next month, the first step by GM to release it in more than 150
countries. In South Korea, the Spark will be sold under the name of Matiz
Creative.
The Spark, which GM Daewoo officials say will hit U.S. showrooms in 2011,
highlighted GM's efforts to focus on small cars as the U.S. auto giant is
escaping bankruptcy protection after painful restructuring.
"Like the iPod, the Matiz Creative will become a cultural icon," Rick Labelle,
vice president of GM Daewoo, told reporters at the company's plant in the city of
Changwon, about 398km southeast of Seoul.
"We want the Matiz Creative to be the choice for those who see value more than
money," said LaBelle, describing the new model "emotionally engaging, stylish and
expressive."
In South Korea, GM Daewoo said the Spark is already creating buzz with more than
5,000 customers signing pre-sale orders.
Equipped with a 1.0 liter gasoline engine and a four-speed automatic
transmission, the Spark gets 17km to one liter of gas, GM Daewoo said.
"In developing the global mini-car, we considered every possible road condition
in the world and tested the vehicle accordingly," Jack Keaton, a senior executive
in charge of GM's global minicar program, said in a statement.
Keaton said the Spark will provide "driving characteristics and ride and handling
that are second to none in its segment at home and abroad."
The price of the new model varies from 9.06 million won (US$7,265) to 10.89
million won, depending on accessories, in South Korea.
GM Daewoo, which exports more than 80 percent of its cars under the GM brand, has
been hit hard by its U.S. parent's troubles.
In the first seven months of this year, GM Daewoo sales plunged 47.4 percent to
306,073 units, excluding kits.
Currently, GM Daewoo is struggling with its own liquidity crunch, which the
company says is "critical," and has been in talks with South Korea's state-run
Korea Development Bank for 1one trillion won in emergency loans.
The talks have reportedly faltered on GM's refusal to offer part of its GM Daewoo
stake as collateral, as requested by the South Korean bank.
GM acquired GM Daewoo in 2002 from the then bankrupt Daewoo Motor Co.
(END)
