GM to Drop Daewoo Name and Replace it with Chevrolet in South Korea

What started a few years back with the re-branding of Daewoo's portfolio to Chevrolets in select markets including Europe, is now being rolled out globally with the replacement of the nameplate in South Korea. From now on, all of the company’s new product introductions will be under the Chevrolet badge, while GM Daewoo Auto & Technology will change its company name to GM Korea Co. The Detroit automaker said the name change is expected to be completed by the end of the first quarter this year.

"This important new brand strategy is designed to strengthen our commitment to the Korean market, recognizing it as one of the strongest-performing countries within GM’s global operations," said Mike Arcamone, President and CEO of GM Daewoo. “We cannot afford to sit still, and instead, choose to make a bold move with the launch of Chevrolet in Korea."

GM noted that three Daewoo models including the Alpheon (a re-badged Buick LaCrosse) sedan and the Labo and Damas mini cars, will not carry the Chevrolet nameplate and will be marketed under independent brands.

Outside the U.S., Chevrolet is planning an aggressive vehicle launch plan this year with the introduction of eight new models including the Camaro, Orlando MPV, Aveo sub-compact, plus an unnamed new SUV model and a new premium midsize sedan.

The Detroit automaker said that GM Daewoo has "played a lead role" in the design, engineering and manufacturing of the Chevrolet Cruze global compact sedan, the new Chevrolet Spark global mini-car, and the new Chevrolet Aveo global small car, adding that currently one out of every four Chevrolet vehicles is manufactured in Korea.

“Chevrolet has enjoyed success in mature markets in North America and Europe, as well as in emerging markets in Asia Pacific, CIS countries, and Latin America,” said Arcamone. “We are confident our customers in Korea will embrace Chevrolet as well.”

Saudi Arabia Signs $500 Million Deal with Korean Company to Build Cars

The King Saud University (KSU) on Sunday announced a $500 million deal with South Korea's Digm Automotive Technology to set up Saudi Arabia's first car manufacturing company. The Saudi university recently made headlines with the Mercedes G-Class-based 'Gazal 1' (pictured above) after announcing that the SUV is heading for production.

The Saudi Press Agency reported that the university's investment arm, Wadi al-Riyadh Technology, will contribute 10 to 15 per cent of the financing for the new venture, with the South Korean firm providing 30 per cent, while the rest will be covered by investors.

“The move comes as part of the university’s efforts to transfer technology and establish a knowledge-based economy,” said KSU President Abdullah Al-Othman after signing the deal with Y.K. Jeon, president of Digm Automotive Technologies.

Al-Othman said the joint-venture's first vehicle will be an economical five-passenger model. “Our aim is to market a low-cost car of high quality priced at between SR35,000 and SR45,000, [US$9,300 to US$12,000]” Al-Othman told reporters.

He added the car will be ready within the next two years and that he hoped to export the country's first automobile to other Gulf states as well as North African countries.

New Photos of 2010 Hyundai Santa Fe Facelift

We've yet to see an official announcement on the European or American market versions of the 2010 Santa Fe facelift, but Hyundai has released a digital pamphlet for the domestic market model that provides us with new photos of the SUV. The brochure reveals that aside from the subtle cosmetic changes up front that include a redesigned bumper and grille, the 2010MY Santa Fe also features a new treatment for the tail lights and the rear bumper. And yes, we sincerely doubt that anyone will notice the changes.

The Korean automaker says that the Santa Fe's refreshed interior benefits from higher grade materials along with a redesigned center console, new upholstery for the seats, updated trim and new equipment features.

As we said in our previous post, the most noteworthy update for the 2010MY Santa Fe concerns the presentation of a new pair of diesel powertrains, a 2.0-liter and 2.2-liter four-pots with outputs of 184HP and 200HP respectively, that are hooked to a new 6-speed automatic transmission.

Via: Es.Autoblog.com

2010 Hyundai Santa Fe Facelift with New Turbo Diesel Engines Debuts in Korea

Today, Hyundai swiped the wraps off its mildly facelifted 2010 Santa Fe in South Korea ahead of the compact SUV's domestic market launch in July. The reworked 2010 model features some modest cosmetic changes along with the introduction of a new pair of turbo diesel engines. On the outside, changes seem to be reduced to a lightly altered front end with a redesigned bumper and grille, reshaped exterior mirrors with turning signals and new alloy wheel designs.

There's also talk about a newly designed rear bumper and tail lights along with an updated interior but we've yet to see the full image gallery or an official press release for that matter.

The South Korean news agencies also reported that the 2010 Santa Fe benefits from the introduction of the Hyundai - Kia group's newly developed 'R' diesel engine lineup that consists of two 4-cylinder units with a displacement of 2.0-liters and 2.2-liters and outputs of 184HP / 392Nm and 200HP /436Nm respectively. Both engines are linked to a new 6-speed automatic transmission.

The European version of the facelifted Santa Fe will most likely make its debut at the Frankfurt Motor Show in September with the North American variant following shortly after.

2011 Hyundai Sonata Spied by Reader in South Korea

A prototype model of Hyundai's forthcoming 2011 Sonata sedan in plastic wraps has been spied parked on the road somewhere in South Korea by a member of the 'Hyundai-Blog' site. The new mid-size sedan that will be called 'i40' in Europe and other international markets, could be revealed in production form as early as this November at the 2009 Los Angeles Auto Show and go on sale sometime during the first half of 2010.

While Hyundai's people have done a pretty good job with the camouflage, some details like the more raked roofline suggest that the new Sonata will be much more adventurous in its design than the current car.

Built on a newly developed platform, the next-generation Sonata is said to be slightly larger than the outgoing model resulting to improved space for passengers and their luggage.

A four-cylinder and a V6 gasoline engine is sure to be in the mix while in Europe and other markets consumers will also be able to opt between the Korean firm's new 2.0-liter and 2.2-liter turbo diesels delivering an output of 185HP and 200HP respectively.

Via: Hyundai Blog

Kia Sketches New Picanto City Car Ahead of Geneva Show Debut

We've known for a while now that Kia is preparing a successor to its Picanto city car, but today, the South Korean automaker came out with a pair of official renderings and a short announcement which said the small hatchback will get its world premiere at the Geneva International Motor Show in March 2011 and go on sale in Europe in late Spring.

Kia added that the Picanto has been penned by the firm's European design team based in Frankfurt, Germany, under the direction of Chief Design Officer, Peter Schreyer, and that it will bring "confidence, solidity and maturity to the A-segment". No other details were released.

Hyundai Evaluating the Creation of a Separate Genesis Brand to Compete with Lexus, May Build a BMW 3-Series Rival

If you were wondering what's next on the Hyundai and Kia Group's agenda of world domination, the answer is the addition of a third brand to the firm's portfolio to compete head on with Japan's Lexus and Infiniti, and possibly even Germany's finest, including BMW and Audi.

The luxury arm would most likely be called Genesis and include the South Korean firm's current rear-wheel drive offerings such as the Genesis Sedan and Coupe, plus the soon-to-be-launched onto the American market, Lexus LS-rivaling Equus.

The automaker, which saw its U.S. market share increase by an overly impressive 50 per cent in the past two years, would further enhance the range of the Genesis brand with a compact sports saloon in the likes of BMW's best-selling model, the 3-Series, and a crossover utility vehicle to compete with the Lexus RX 350.

The creation of the luxury arm is more than just a thought as John Krafcik, president of Hyundai Motor America, told The Wall Street Journal that the company has two branding scenarios under consideration.

The first and most likely to happen would be for Hyundai to launch the Genesis as a sub-brand and sell the cars in separate parts of its own showrooms. The other is to follow in the footsteps of Lexus and launch the brand into separate dealerships. One third option would be for the company to develop the aforementioned sedan and SUV models but keep the Hyundai branding for the time being.

"One of the keys to this plan is how well the Equus does. We don't need to make a decision for some time", Mr. Krafcik said on the branding question during an interview with journalists.

While Hyundai remains open to all options, Mr. Krafcik said that he is most concerned about launching a spin-off brand due to the costs related to the creation of a new network of dealers and that the company would need to make an additional $6,000 in revenue per each car sold by the outlets.

There appears to be a lot of enthusiasm among Hyundai dealers who are almost certain about the creation of the Genesis brand.

"The dealers are excited about the Equus, and it being the lynch pin for this Genesis brand," said Scott Fink, an owner of two Hyundai dealerships in Florida. "We feel like we can do what others have been unable to do. We think we can sell a luxury brand within the house of the mainstream brand."