Yes, you're reading that right (again). I was recently introduced to these on a recent trip to Mexico. Not sure of the reasoning behind the repetitive name of the Chevrolet Chevy (possibly a half-assed attempt to assure public that this car is actually a Chevrolet), but it's basically continual rehashes of outdated Opel products, not unlike the Soviets tended to do to Fiats.
Immensely popular down there, the Chevy Chevy began life in 1994 as a simple rebadge of the Opel Corsa B, which debuted in 1993. However, where the Corsa evolved into the Corsa C in 2000, the Chevy Chevy soldiered on unchanged. That is, until 2004, when it received a slightly updated face. This look lasted for 4 years, and was more heavily revised in 2008 to the horrible looking car you see here. Similar to what Chevrolet attempted with the Aveo (but less successfully, if that's even possible), they managed to graft on the now corporate "gigantic Chevrolet split grille".
Things will change soon, however. 2012 is the last model year for the Chevy Chevy, as it's slated to be replaced by the Spark. The gigantic split grille will soldier on, albeit in a more attractive body.
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