Steane Klose | Sep 8, 2008

GM Holden has announced its latest export program – the GM Daewoo Veritas. In what are generally considered tough times for Australian car manufacturers, the news adds to Holden’s active export program and helps bolster the company’s long term viability in the small Australian market.

The Veritas is a long wheelbase luxury flagship tailored for the demanding South Korean market, based on Holden’s WM Statesman, and built at Holden’s Elizabeth production facility in Adelaide.

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GM Holden Chairman and Managing Director, Mark Reuss, described the Veritas as a great addition to Holden’s export portfolio demonstrating the company’s reach and flexibility.

Reuss said GM Daewoo had drawn on Australian expertise and resources for a vehicle tailored to meet the needs of the Korean market.

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“GM Holden develops its large cars to be world class and we are seeing that paying dividends with new export programs like the one announced today. Cars we build here in Australia are being exported to every continent except Antarctica for brands including Holden, Chevrolet, Pontiac, Vauxhall and GM Daewoo”, said GM Holden Chairman and Managing Director, Mark Reuss.

The Veritas is based on GM’s Global Rear Wheel Drive architecture, and is powered by a 3.6 litre Alloytec V6 and five-speed automatic transmission.

“And with the engine in the Veritas also being built by Holden, it’s fair to say we are exporting the complete package.

“Exports are an increasingly important part of our business and Veritas again proves we have the capability to design, engineer and build vehicles for a wide range of consumers and markets.”

The Veritas, is a development of the L4X showcar, which made its debut at the 2007 Seoul Motor Show, and it is hoped that it well help to redefine the premium image of a large sedan in Korea.

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Veritas will boast segment-leading legroom in the Korean market as well as luxury features including massaging rear seats, electric-adjustable headrests and LCD screen and headset.

“Veritas represents the start of a new era for GM Daewoo, as we begin to replace our entire current product line-up with new segment-leading models between now and 2010,” said GM Daewoo President and CEO, Michael Grimaldi.

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Veritas is the second export arrangement for Australian-built vehicles between GM Daewoo and GM Holden. In 2005, GM Holden exported nearly 2000 of the previous generation WL Statesman to Korea marketed as the GM Daewoo Statesman.

GM Holden has exported more than 800,000 vehicles since commencing its export program in 1954. Holden has exported more vehicles than any other Australian carmaker. It currently exports vehicles to the USA, Brazil, South Africa, New Zealand, Middle East, UK and Canada.

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