GM Unveils Chevrolet Cruze in South Korea

General Motors today unveiled Chevrolet Cruze in South Korea, its new compact car model which marks the beginning of a new Chevy line-up especially focused on fuel-efficient engines. According to Trading Markets, the car is scheduled to reach Korean dealerships in mid-November, with the European and North American launch due in first quarter 2009 and 2010 respectively. Chevrolet Cruze will be manufactured at GM Daewoo's production facility and will be locally sold as Lacetti Premiere.

The new car model is powered by a 1.6-liter gasoline engine capable of providing a maximum power of 140 horsepower. The price will vary depending on accessories, with the base version priced at $7,600 while the top version goes as much as $12,800.

Even if it arrives in a market dominated by Hyundai and Kia Motors, GM's representatives said they're confident that Cruze will record very high sales, especially thanks to the fuel economy it provides.

“Cruze is a significant model for GM around the world. Working together with GM's global design and engineering teams has resulted in a vehicle that is destined to be a global benchmark and a sales winner. The Lacetti Premiere is the first member of the next generation of segment-leading products for GM Daewoo,” Michael Grimaldi, chief executive office of GM Daewoo, was quoted by Trading Markets as saying in a press conference. “We believe we will win,” he commented on the competition between the new model and the existing compact cars.

Grimaldi also talked about General Motors' global sales, pointing that Cruze plays a very important role in the company's strategy to get out of the economic crisis. “"We are in a very serious financial condition around the world. But, I believe we are going to navigate through the current difficult economic conditions."