GM’s Korean unit will start to sell Chevrolet vehicles made in Unites States, after the Free Trade agreement between the two countries halved the import tax for U.S.-made vehicles to 4%.
The U.S.-made Chevrolet Corvette Coupe will go on sale on May 4 in the domestic market and compete against the pricier Porsche 911 Carrera and BMW Z4.
The Corvette Coupe comes with a eight-cylinder engine delivering 430 horsepower and will start at 86.4 million won ($76,300), GM’s South Korean unit said in an e- mailed statement Sunday. That’s more than 50 percent higher than the car’s sticker price in the U.S.
The two-seater Corvette Coupe is the ninth Chevrolet model to be offered by GM Korea.
The announcement comes shortly after in January, a British newspaper said General Motors is considering moving car production from Korea to Europe.
The plan was intended to revive the troubled Opel and Vauxhall arms, the Daily Telegraph said, adding that some Chevrolet production lines might be transferred back to Europe to bolster its production lines there.
However, GM Korea dropped the Daewoo brand-name and adopted the Chevrolet brand-name in South Korea as part of GM’s rebranding strategy.