Daewoo Cars Price List in the Philippines October 2017
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Daewoo – Leading the way towards Auto Globalization
Daewoo Motors is a leading automobile manufacturing company based in South Korea. It was founded in 1982 and has its headquarters in Bupyeong gu in Incheon, South Korea. It was initially established as a subsidiary division of the huge South Korean business conglomerate (chaebol) – Daewoo Group. However, it was sold off to the world biggest automobile manufacturing & marketing company - General Motors, after suffering a financial crisis in 2001 and was renamed as GM Daewoo. Later in 2011, its name was again changed to GM Korea, which is now the 2nd largest subsidiary automobile division of General Motors in South Korea.
Daewoo Motors was initially established in 1937 as National Motors with its headquarters in Bupyeong gu in Incheon, South Korea. Its name was later changed to "Saenara Motors" in November 1962 and was provided with all modern assembly line facilities by the South Korean government under the "Automobile Industry Promotion Policy". It was mainly concerned with assembling & marketing cars manufactured by other leading South Korean multinationals such as – Datsun Bluebird PL310.
Acquisition by Toyota
Saenara Motors was sold off to the leading South Korean company Shinjin Industrial which was later changed to Shinjin Motors after it had collaborated with leading Japanese multinational car brand – Toyota Motor Corporation. However, it ended its partnership in 1972 leading to another agreement with General Motors. The company's name was eventually changed to "General Motor Korea (GMK)" and then to "Saehan Motors" in 1976.
Return to Daewoo Group
GM Korea was made a member of the Daewoo Group in 1982 after company sales started falling in 1978. Shinjin Motors sold off its shares in the company to Korea Development Bank (KDB) in November 1976 owing to loss of financial credibility. However, KDB was unable to revive the company under its reign and finally sold off the equity shares to Daewoo Group in the year 1978.
Acquisition by General Motors
Despite genuine efforts, Daewoo was sold off to General Motors owing to huge financial loses and inability to sustain a profitable business. Major car brands which attended the bidding ceremony include Ford Motor Company, Daimler Chrysler, General Motors, Fiat and Hyundai. Another important partnership included that with India's largest automobile manufacturing company – Tata Motors, which bought Daewoo's subsidiary division – Daewoo Commercial Vehicle Company in 2004.
GM Korea is currently managed by Chief Executive Officer Sergio Rocha, Company President Chang Jae Joon, Chief Financial Officer Carlos Zarlenga and Executive Vice President Ji Na Hwang. Sergio Rocha was also appointed the Managing Director & President of General Motors Paraguay, Uruguay and Paraguay along with CEO of GM Korea starting from 1st March 2012.
Daewoo offers a variety of premium & exclusive car models for its customers to choose from. Such models include sedans, passenger cars, commercial vehicle, concept car models, etc. Daewoo Motors Philippines has an exclusive range of car models including Daewoo Espero, Cielo, Tico, Maitz, Racer Eti Cyclone, Prince and Tosca, etc. Other notable models include Kalos, Lacetti J300, Lanos T100, Leganza, Magnus, Nubira, Tacuma, Winstorm, etc. List of commercial vehicles includes BM090, BS090, BF101, BH120, BV101, BH116, etc.
Many Daewoo models such as Espero, Cielo, Lanos, Leganza, Matiz & Leganza very popular in some nonAsian countries especially in Italy where it had "Car of the Year" award for three consecutive years from 1998 – 2000. Daewoo had a moderate customer base in Canada & United States during the period 1997 – 2002 but it was forced to pull out after a major financial crisis that nearly the company to bankruptcy. According to company insiders, the prospect of expanding business in Philippines remains a priority with General Motors officials. A notable subsidiary division of Daewoo is "Daewoo Performance Automobiles" which markets its products primarily in South Korea.
Marketing & Sales
General Motors Korea owns about 5 manufacturing units in South Korea along with one such facility in Vietnam. It also has an Engineering & Design Center dedicated for development of GM products based in Korea. Daewoo Motors employs over 17,000 people in its production & marketing facilities all over the world. According to a survey conducted in 2011, GM Korea sold over more than 140,705 units in Korea with a total export of 1.9 million vehicles & accessories worldwide.