History of Daewoo

The South Korean company with a rich history and a great name has evolved from a modest enterprise on repair of motor vehicles. Workshop Shinjin Motors, specializing in the repair of engines General Motors gradually increase their capacities and by the 1970s the years has grown to the status of the plant. Changed the name and purpose of the brand. Concern Daewoo henceforth was called to release the South Korean cars.

In 1972, signed a strategic partnership agreement with GM. The name came from Daewoo Corporation, which was one of the largest ship of the giants, who made appliances, electronics, equipment for ships and much more. It bought the stake Shinjin Motors and became a partner of GM.

In the mid-1980s, the company was actively looking at the European and Asian market, considering that production in Eastern Europe will help them to find their niche and firmly occupying it. It is obvious that this position was the basis of numerous allied ventures with national companies and holdings.

However, in 1986 year was born the first machine, produced under the brand Daewoo. It was the Opel Kadett E, a license for which a light hand GM got a Korean company. Different names of this car went to the USA and Europe. In the New World the car was called the Pontiac Le Mans, and in Europe - Daewoo Racer. This model served as the basis for production of Daewoo Nexia in 1994. She currently produced at the plant in Uzbekistan under the name of Nexia II.

In 1988, the model range of the company also received Tico car, which had a miniature motor 0.8 liters and five-door body. Cheap and simple to the operating conditions of the car quickly gained popularity in South Korea, but exports were sold very poorly. Not taking a small model, accustomed to the most luxury Europeans did not want to take this car.

In 1994, in addition to model Nexia, Daewoo releases a new car with a catchy name Espero. It is noteworthy that the design of new products was suggested by one of the most famous in the automotive world design Studio Bertone. The novelty has impressed motorists and gave rise to a wave of fans and followers.

However, the South Korean crisis that began in the mid 1990-ies did not allow the company to work at full capacity. In the absence of a national market, Daewoo makes a decision on cooperation with fashionable tuning-Studio ItalDesign. Together with his assistants with conveyors company released 4 new car models - Matiz, Lanos, Nubira and Leganza. Neither were designed to conquer the European market is not experiencing a serious crisis. Cars were presented in the classes A to D and focused on all categories of the population. Unfortunately, the sale of these cars were at lower levels than expected by analysts.

The company has invested in the purchase of the Korean brand SsangYong to go with their machines on the market SUVs, popular in Europe from the late 1990's. Despite the impressive profit, most cars sold on the domestic market and the export options of cars sold poorly due to strong competition from other manufacturers. Developed company and big cars on the basis of borrowed platforms.

Meanwhile, the plan to quickly master the markets of the West failed, the Company turned its gaze on Eastern Europe with its rich production capacities and potential markets for fairly cheap cars. Were running a whole series of joint ventures with factories Uzbekistan, Ukraine, Romania, China and Poland. A large amount of new cars poured in underdeveloped countries. As expected, the quality was much lower than the original, and the tendency of distrust of the auto industry in the countries of the former USSR has further reduced the possible sale of cars Korean brand.

Eventually the company was forced to declare himself bankrupt. Lenders, not lagging from Daewoo all the way for its existence, "grabbed" a 33% stake. 42,1% received GM, even 14.9 per cent were able to buy the Japanese company Suzuki brand which Daewoo was exported to Japan. About 10% of the shares of the concern is owned Shanghai Automotive from China.

Currently, the production of automobiles under the brand name Daewoo fully stopped - too much brand discredited over the last few years of economic crisis. In Europe and America, the company comes under the name of Chevrolet, and in the Asian region under the Suzuki brand. There have been changes in the names of the models. There are cars like Aveo Lacetti and that became the successors of the earlier cars Daewoo - Kalos and Nibura II. The company continues to own large manufacturing facilities worldwide and is actively developing new markets under a new name.

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