I saw one of those weird DAEWOO motors “Leganza” automobiles the other day…didn’t Daewoo go bankrupt around 4 years ago? As I recall, they tried to enter the US market, set up a dealer chain, and promptly lost billions! There was a DAEWOO dealer near my brother’s house…it seemed to me that the DAEWOO sign went up, then down,in the space of a year or so!
I also have a personal experience-I actually rented one on a trip to CA…the car was nothing special-a lot like any small japanese car.
Anyway, is DAEWOO dead and buried?
When Daewoo Group collapsed in bankruptcy in 1998, creditors sold the car business. General Motors Corp. owns 42% of what is now GM Daewoo Auto & Technology Co., the third-biggest South Korean carmaker, Suzuki Motor Corp, has a 15% stake, Shanghai Automotive Industry Corp. owns 10%, and Daewoo creditors control the rest.
Does anyone else think that the Daewoo logo looks like a jockstrap?
This is a useful chart of car companies around the world.
Daewoo is bankrupt? What happened to their arms production? They were the chief supplier of small arms to the South Korean military.
As mentioned, their car business was taken over by GM and Suzuki. Cars they make are still sold in North America, as certain models of Chevys and Suzukis.