February 2, 1999 |
Daewoo Motor America said Monday that it plans to become the first auto maker to sell its cars in California direct to consumers via the Internet. Daewoo's program marks a further erosion in the traditional method of selling cars and has heightened fears among some dealers that car makers are looking for ways to cut them out of the loop.
December 30, 1998 |
Daewoo Motor Co. officials said at a media preview of the Greater Los Angeles Auto Show that the South Korean car maker sold 2,400 cars in its first four months in the United States and intends to begin television advertising next year in an effort to crack the market. "The word-of-mouth is a little slower than we'd expected," said Bill Tucker, vice president of U.S. marketing for the Compton-based importer.
December 15, 1998 |
Ailing Samsung Motors has pulled the plug on its U.S. design studio in Huntington Beach, which will close at the end of the year. The 22 employees have vowed to stay together as a design team and hope to find a car maker or other major automotive-industry manufacturer with design needs to buy the studio and its state-of-the-art computerized equipment. Samsung Motors, which is scheduled to be acquired by Daewoo Motor Corp.
December 8, 1998 |
Samsung will swap its troubled car business for the debt-burdened electronics unit of rival Daewoo Motors as South Korea's conglomerates announced moves to shed scores of their units. Seeking to kick-start its sputtering corporate restructuring campaign, the government also said the family-run conglomerates, or chaebol, plan to raise $58 billion from investors or by selling assets. Samsung is the country's biggest electronics producer and the world's largest producer of memory chips.
September 29, 1998
Korean auto maker Daewoo made its official foray into the U.S. auto market Monday with the opening of 15 company-owned stores, including one in Van Nuys. Like the other Daewoo stores, located in nine states, the Van Nuys branch will follow the company philosophy of marketing primarily to college students. The showroom, at 6001 Van Nuys Blvd., is within a few miles of Valley College, Pierce College and Cal State Northridge. Daewoo Motor Co.
April 29, 1998 |
As his bosses in Seoul struggled with bankruptcy last week, Dick Macedo was hurtling around a racetrack in Ventura, apparently worry free as he and other top brass at Kia Motors America Inc. spent a day feting automotive writers. Indeed, the South Korean auto importer's new sales and marketing chief insists that economic woes plaguing the parent company--the entire South Korean auto industry, in fact--have little impact on Irvine-based Kia's operations in the United States.
April 10, 1998 |
Undeterred by the economic problems plaguing its homeland, Daewoo Motors Inc. will begin selling cars in the United States late this summer with a slew of innovative marketing ideas and a pitch aimed at the college crowd. Tactics that could include free insurance and below-market financing plans are "the kinds of things that should get them noticed, maybe even called revolutionary," said Wes Brown, an industry analyst with Nextrend in Thousand Oaks. "They may be new to the U.S.
March 11, 1998 |
Daewoo Motor Co.'s nascent U.S. import arm has slashed by 75% the number of car dealerships it plans to open when it launches North American sales later this year, according to an industry publication. South Korea-based Daewoo also has revamped its U.S. corporate structure in a bid to improve its operating efficiency.
February 11, 1998 |
South Korean auto maker Daewoo Motor Co.'s plans for its U.S. sales launch still is shrouded in mystery--the company shuns interviews and doesn't announce its moves in advance. But insiders say the company is completely redrawing plans that once called for it to set up four separate regional operating units. Now, it is likely that a consolidated U.S.