In Philly, they’re advertising “buy a new Daewoo*, and get one Daewoo free!” Wow…that’s pretty daring of their legal team. But, my question is that they’re offering a full GM warranty on both cars. So, Daewoo a stand-alone car company, or yet another GM join-venture, like the Prizm, Geo, and Storm? - Jinx
Oops! I never explained the asterisk!
*indicates that some model (probably top of the line) was stated as the required purchase, and the free(?) car is unspecified. I WAG it’s an econo-box.
- Jinx
I regret that I have but one asterisk for my country!
I don’t know, but on Monday I just bought a Daewoo brand VCR. Go figure.
Daewoo Industrial Company, Ltd., is a South Korean corporation. See http://www.daewoo.com/corporation/corporation_summary_english.htm
You’ll notice that there is an Auto Division, as well as a Media and Electronics division, among others.
The English version of the website is pretty crappy; not too much information beyond the basics there.
Daewoo was an independent Korean corporation. They started selling cars in the US in the 1998 model year. They recently went bankrupt, and had their assets sold off by a bankruptcy court. GM bought the Korean plants, but not the US sales arm. That means that there will be no more Daewoo-badged vehicles imported to the US, and future parts availability is questionable. That’s why the existing Daewoos are selling so cheap.
Personally, I think it’s a pretty good deal. Daewoos are not awful cars (think Mitsubishi, not Yugo), and many parts were shared with GM even before the buyout. Additionally, there have been a lot of rumors swirling around that GM is going to take over American Daewoo warranties, possibly in preparation for a US Daewoo comeback under a different brand name (Chevy and Suzuki have been thrown around, though nothing is certain).
My recommendation: If you find a nice Daewoo for a price well below a similar car from another brand, and you are willing to deal with some junkyard-scavenging for future parts needs, buy it.
-Andrew L
njufoic please check your information before posting it as fact.
Daewoo is not bankrupt. Their car division is. Daewoo is one of the massive South Korean Jaebols (conglomerates) in the same vein as Samsung, LG, and Cheil Jedang. They make everything from electronics to window frames and are doing fine. They are also one of the largest ship-builders in the world.
Daewoo cars will still be manufactured domestically and exported but branded as GM-Daewoo.
I didn’t do any research, but I think he meant that Daewoo’s car division went bankrupt and GM bought them up.
So, it is possible that the auto division of Daewoo went bankrupt but Daewoo cars are still being made in Daewoo factories by Daewoo employees. They’re just owned by GM now.
Take a look at that creepy corporate logo
It’s pretty clear to me that Daewoo is run by those aliens with the big black almond eyes.
If I’m not mistaken, when I was in Vietnam a few years ago, trying to visit the infamous “Hanoi Hilton,” the only thing left of it was the front gate; the rest was a giant office building project being built by Daewoo Construction. At any rate, I know that Daewoo makes more than just cars. I see all kinds of Daewoo stuff here: cars, electronics, kitchen appliances, earth-moving equipment, blimps.
(Okay, I made that up about blimps. But I wouldn’t be surprised.)
Daewoo is also an arms manufacturer. I have seen the AR-15/M-16 they make.
They also make PCs. I use a rather old Daewoo MTS PC at home (Intel Celeron-equipped). Works fine.
They make some very nice semi-auto rifles…
Going to the gun show tomorrow. I’m sure they’ll be on display. Just too high priced. I’ll have to stick with my mini-14 for a while.
These Daewoo guys must get around. I have a piano made by them - purchased it new 12 years ago. I don’t see them in music stores anymore, but I like mine quite well in case you ever run across a used one.
You probably buy the car and get a free DVD player or something. Daewoo makes a diverse line of products, at least it seems like they do.
Yeah, I guess I mean Daewoo’s car division went bankrupt. I had not realized the company had so many different divisions. I am used to posting on automotive message boards, and as far as they are concerned, “Daewoo went bankrupt” is a true statement. I didn’t think to check on all the other parts of the company.
But yes, as voltaire said, GM now owns the Daewoo factories, but they are still producing Daewoo cars. It’s not as though GM ripped out their equipment and had them start turning out Chevy Cavaliers. Suzuki is also part of the joint venture that bought the assets, so it’s possible that we’ll see a new US-market Chevy Metro or Suzuki Esteem or something that is actually a rebadged Daewoo.
-Andrew L
They also build oil rig (hulls and living quarters), I have been on a bunch of them.
unclviny
–smirk-- Listen, YOU- that’s my kids you’re talking about !
Besides, those eyes are just to DIE for.
I was in South Korea in 1994, and 1995 ( I think… ). That name is EVERYWHERE. I don’t know much about the autonomy of the various arms of said Jaebols, it really is no different on the surface ( IMHO ) than most American Conglomerates. Face it, everything is made by Beatrice. Ok?
Cartooniverse
I 've heard about the Daewoo shipbuilding business. In fact, it’s my understanding that Korean shipbuilders are driving all of the Japanese shipbuilders (like Mitsubishi) out of business.
I also understand that Mitsubishi’s automotive division isn’t doing so hot these days either, and they’re now into some pretty heavy joint operating with Daimler-Chrysler.
Diceman-
Mitsubishi’s problem has always been that its quality (or, at least, perceived quality) has never been quite as good as that of the other Japanese carmakers (Toyota, Honda, Nissan, Mazda, etc). However, in recent years Mitsubishi sales in the US have been increasing, as they have been marketing them aggressively as poor man’s sports cars, which has made them popular with younger buyers.
Mitsu and Chrysler have been working together for years, dating back to at least the '70s (remember the Challenger and Sapporo?). Other joint ventures have included the Mirage/Colt/Champ/Summit, and Eclipse/Talon/Laser/Avenger/Sebring. The latter platform-sharing is still going on; a 2003 Sebring Coupe and Stratus Coupe share platforms with the current Mitsubishi Eclipse.
Both Chrysler and Mitsu seem to be getting a little stronger recently, after some problems in the mid to late 1990s. As someone who follows the industry, I’d venture to say that of all the carmakers currently selling in the US, Ford is in the most trouble right now. But that’s another topic for another thread.
-Andrew L