Daewoo Motors India

Daewoo Motors stands as one of the most successful car makers in India. It was originally intended only to produce light commercial automobiles but in the long run it also came to offer large sized cars.

This company was established in 1967 and was named Daewoo Industrial Company Ltd. During that time, Daewoo Motors was incorporated as DCM Toyota Ltd.

This company is part of Korean Daewoo Group that has a yearly turnover of 65 billion dollars.

Daewoo Motors now has a strong global presence in 123 countries and produces more than 1.7 million units in a year. Their production is not limited to small cars as they also offer buses, sedans and trucks.

Important Dates
In 1982, Daewoo Motors India joined forces with Daewoo Development Company Ltd and thus changed its name to Daewoo Corporation. In 1995, Korea’s Daewoo Corporation decided to buy DMC Toyota equity and therefore its holding was increased by 90% in 1997.

In that same year, the company launched its 1500 cc Cielo. At first the car sales were high but this did not last long. Sales deteriorated starting the third quarter of that financial year and this affected the company. They later decided to launch Daewoo Matiz which had average sales.

In 2000 the Daewoo International Corporation was formed due to the spinoff plan of Daewoo Corporation. In 2002 this Daewoo Motors India was allowed preliminary graduation of workout which was completed the following year. Today Daewoo Motors India partners with GM Daewoo, Daewoo Bus, SAAB, Cadillac and Tata Daewoo to name a few.

Although Daewoo Motors is the single largest automobile investing company in India, it has not been able to attain the kind of success they had in mind. This company was supposed to be a top seller but most of the cars they produced did not market well locally and internationally.

The company decided to slash the price but this left buyers questioning the quality of the product. Despite the ups and downs Daewoo Motors may have faced, the company is still operating today.

Throughout the company’s history they have received the following awards; Excellence In Corporate Governance, Best Prize In Management Sector, Grand Prize For Shareholder Value, Grand Prize In Global Management Sector And Grand Prize For Digital Knowledge Management.

In India, Daewoo Motors continues to offer employment to the citizens and also places cars like Matiz, Cielo and Nexia just to name a few on the Indian roads.