Business

Wednesday August 29, 2007

High hopes for Chevrolet cars



SHAH ALAM: DRB-HICOM Bhd and General Motors Asia Pacific Holdings (GM) are confident that their joint-venture company, HICOM-Chevrolet Sdn Bhd, will sell more than 2,000 Chevrolets by year-end.

DRB-HICOM group managing director Datuk Mohd Khamil Jamil said the Chevrolet Aveo Notchback, HICOM-Chevrolet's first product, would strengthen the Chevrolet brand and spur sales.

“DRB-HICOM stands to gain from the wealth of expertise and experience GM brings to the table as our partner.

“And, together with DRB-HICOM's keen knowledge of the local market, we are confident of turning Chevrolet into a serious player in the passenger car segment in Malaysia,” he said after signing the joint-venture agreement with the president of GM South-East Asia operations, GM Thailand and Chevrolet sales Thailand, Stephen Carlisle, yesterday.

GM holds a 51% stake in the joint venture that will initially oversee the sales and distribution of Chevrolet vehicles in Malaysia. DRB-HICOM subsidiary Hicomobil Sdn Bhd had been distributing Chevrolet in the country since 2003.

“The partnership would also explore the establishment of a local assembly programme and a manufacturing hub in Malaysia for the production of Chevrolet vehicles, parts and accessories for the Asean market,” Khamil added.

Carlisle said the partnership would result in GM having a major presence in Malaysia, a key member of the Asean community and the largest market for passenger cars in South-East Asia.

The new Aveo Notchback, which was launched after the signing ceremony, is a sub-compact passenger car in the 1,400cc category aimed at capturing the young and upcoming executive market.

“Priced more competitively than other models in its category, the Aveo Notchback is ideal for those looking for an affordable ride while maintaining a modern design and style with a spacious interior,” Khamil said.

Priced at RM69,888 without insurance, it offers a three-year warranty or 100,000km, whichever comes first.

 
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