Sales Of GM Daewoo Cars Soar In ASEAN

Sales in first four months of 2004 grew 292 percent year on year Lacetti is hottest seller Thailand's Ministry of Industry names Lacetti "Car of the Year" Sales of GM Daewoo products in the ASEAN (Association of Southeast Asian Nations) region in the first fourth months of 2004 totaled 6,341 units, representing a year-on-year increase of 292 percent. In the corresponding period of 2003, 1,640 GM Daewoo vehicles were sold.

GM Daewoo models accounted for 77 percent of the 8,318 GM vehicles sold in the first four months in ASEAN. This enabled GM's sales to grow 102 percent in the region, which includes Thailand, Indonesia, the Philippines, Singapore, Malaysia, Vietnam and Brunei.

The Lacetti, Kalos and Matiz models comprised 91 percent of GM Daewoo vehicle sales during the first four months of 2004, with Lacettis alone accounting for 52 percent. The Lacetti has been a popular GM Daewoo export model since its launch in 2002.

With sales of 1,740 units, the Lacetti-based Chevrolet Optra accounted for 73 percent of GM vehicles sold in Thailand, GM's largest single market in ASEAN. According to William Botwick, Executive Director of ASEAN, GM Asia Pacific and President & Managing Director for GM Thailand, "The Chevrolet Optra has established a distinct position for itself in the marketplace as a stylish, reliable and comfortable midsize sedan. It has become GM's best-seller in an incredibly short period of time."

GM Daewoo cars have been praised by customers and industry experts alike. The Chevrolet Optra was recently named Car of the Year by Thailand's Ministry of Industry for its outstanding design and excellent performance. At the end of last year, Chinese automotive journalists and industry experts named the Lacetti-based Buick Excelle Best Domestic Compact Car 2004 and Car of the Year 2004 - Value for Money while the Matiz-based Chevrolet Spark was named Car of the Year 2004 - Performance. In India, the Lacetti-based Chevrolet Optra received BBC World's Wheels Awards 2003 in December 2003.

In Korea, the Lacetti received the highest score among all Korean-made cars in the 2003 Korean Product Quality Index. More recently, the Magnus was honored with the 2004 Technology Frontier Award from the Korean Standard Association for its innovative in-line six-cylinder engine, which boasts class-leading torque and a uniquely quiet ride.

GM Daewoo Auto & Technology, which is based in Incheon, Korea, was established in 2002. It has three vehicle manufacturing facilities in Korea as well as an assembly facility in Vietnam. GM Daewoo products also are assembled at GM facilities in China, Thailand and India. In 2003, GM Daewoo sold nearly 600,000 vehicles. Its products are exported to 141 countries.