GM Korea plans to increase exports to Uzbekistan

Sergio Rocha, CEO of GM Korea, told to Bloomberg that GM Korea stopped to export automobiles and preliminary collected sets to Russia due to weakening of the ruble.

He said that the company is searching for new markets to compensate losses and added that export of produced cars can be increased to Uzbekistan and Australia.

On 18 March, General Motors announced plans to change its business model in Russia. GM will focus on the premium segment of the Russian market with Cadillac and US built iconic Chevrolet products such as the Corvette, Camaro and Tahoe. The Chevrolet brand will minimize its presence in Russia and the Opel brand will leave the market by December 2015.

The GM Auto plant in St. Petersburg will halt production by the middle of 2015. GM is planning to idle the plant. Furthermore, the contract assembly of Chevrolet vehicles at GAZ will be discontinued in 2015.

The GM-AVTOVAZ joint venture will continue to build and market the current generation Chevrolet NIVA.GM’s global luxury brand Cadillacwill be set up for growth in Russia over the next several years as it prepares for numerous product introductions.