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GM Daewoo boosts sales, production
DETROIT - Here's what was missed in the news about General Motors' distressed brands and sluggish U.S. sales: While GM sliced third-quarter North American production by 100,000 units, it increased Asian production forecasts by 100,000 units.
GM sales in Europe, Asia, Africa and South America have grown this year. And its engine for growth is Chevrolet, the venerable high-volume brand that has enjoyed a rebirth overseas.
While GM is trimming its product lineup for slow-growth brands such as Buick and Pontiac, it has expanded the Chevrolet line. The automaker has rebranded Daewoo-built cars and trucks as Chevrolets, and those vehicles are finding a market overseas.
From January through April, Chevrolet sold nearly 1.4 million vehicles worldwide, a year-to-year increase of 8.2 percent. GM Daewoo Auto & Technology Co. "has provided a terrific source of product development capability that we really need," GM Chairman Rick Wagoner said at an analyst meeting this...