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GM Daewoo passes Kia as Korea's No. 2 automaker

When General Motors took the reins of Daewoo in 2002, they saw a future in the then bankrupt Korean automaker. Since then, GM has poured a considerable amount of resources into Daewoo and now, that effort has paid off. GM Daewoo has taken back its former standing as the number two automaker in Korea.

Kia has occupied the second place spot, right below its parent company Hyundai, for the past four years. However, GM Daewoo was able to out-produce the automaker by some 180,000 vehicles in 2006.

Close to 80-percent of GM Daewoo's are shipped abroad, with exports up over 33-percent, while domestic sales rallied 19.2-percent. Some of those aforementioned exports arrive in the U.S. wearing Chevrolet's bowtie.

Since GM's sales have been waning over the past few years, this sort of news is an unlikely bright spot for the automaker as a whole.

[Source: Edmunds]

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