6.1.2005
Chevrolet and Daewoo car sales up 42 percent in 2004

Chevrolet Europe, known as GM Daewoo Europe until the end of December 2004, again posted continually rising sales in 2004. The sales increase over 2003 was slightly over 42 percent – from 133,468 vehicles to over 189,900 in 2004.

The company's market share rose from 0.68 to 0.92 percent across Europe. December sales were especially strong, both in Central and Eastern Europe (Chevrolet) and in Western Europe (Daewoo). They reached 14,900 units, which is more than 3,500 vehicles over December 2003 (+21%).

The biggest-selling market in 2004 was again Italy, with just over 30,000 vehicles sold, closely followed by Spain, with 29,400 new registrations. Largest growth rates were recorded in Sweden (+135%; from 880 to over 2,000 units), in Finland (+119%; from 1,000 to over 2,200 units) and in Austria (+104%; from 1,230 to over 2,500 units).

Vehicle sales increased dramatically in the markets in which the new range of GM Daewoo-built products was launched by Chevrolet. In all of Central and Eastern Europe, sales increased by 190%, from 17,600 to 51,200 units. This includes 2004 start-up operations, such as Poland (3,500 units), Turkey (9,700 units), Russia (1,600 units) and Ukraine (8,800 units). In fact, Chevrolet reached 3.79% market share in the Ukraine, and, in Turkey, market share in the first year of operation was 1.35%. Hungary is a success story in itself: Chevrolet has 6.7 percent market share in that country and ranks sixth on the passenger car market. Chevrolet Hungary sold nearly 15,000 cars in 2004, a 26 percent increase over 2003 in a stagnating market.

On a global level, Chevrolet Europe's South Korean parent company, GM Daewoo Auto & Technology, sold 55.2 percent more vehicles worldwide in 2004 than in 2003 – 900,000 vehicles over 579,800 last year. This increase was achieved largely through a huge increase in exports of finished cars and component kits. In 2004, GM Daewoo's exports from Korea surged 76 percent, from 452,000 to 795,000 units. Annual exports of finished cars increased by 73.3% from 264,600 units in 2003 to 458,500 units in 2004, while annual component-kit exports reached 337,000 units, based on a rapid increase in local assemblies in China, Thailand, India and Vietnam. Chevrolet cars accounted for 43 percent of GM Daewoo's 2004 exports.