GM Foresees Fewer Vauxhall Job Cuts Nov 19, 2009
From there, he moved to Zurich before heading for Asia, first to Daewoo in South Korea and ultimately, from July, as the Shanghai-based head of international operations. Mr. Reilly was called on to run the European business last week, pending the recruitment of a replacement for Carl-Peter Forster, the former boss who left in the wake of GM's U-turn on the plan to sell the European arm to Magna. (BusinessWeek)
Korean model triumphs over West Nov 17, 2009
Chinese consumers are not alone in being attracted to these products, as rising sales of Hyundai cars in the United States during the "cash for clunkers program this year testify. Hyundai Kia Automotive Group's October sales in the US not only jumped nearly 50% from the same month last year, according to the automotive industry publication Ward's Auto; the increase rates of the two carmakers was the largest among light-vehicle brands, and nearly 14 times higher than the average increase rate... (Asia Times Online)
S Korea's auto sales climb in October Nov 2, 2009
Meanwhile, GM Daewoo Auto & Technology Co., the local unit of General Motors Co., said it scored a sales volume of 55,314 units last month, 24. 6 percent contracted from a year ago, due to falling exports. (Xinhuanet, China)
Korean GDP expands at fastest pace in 7 years Oct 26, 2009
"I see companies' restocking contributed substantially to the GDP growth, while consumption and construction investment remain weak," said Seo Cheol-soo, an economist at Daewoo Securities. "I do not think this data, while strong, will prompt the Bank of Korea to raise the key interest rate suddenly. (The rate rise will come) perhaps in the first quarter of next year.". (Sydney Morning Herald -- Business)
S Korea calls back Tata Daewoo trucks Oct 18, 2009
SEOUL, Oct. 18 (Xinhua) -- The South Korean government on Sunday ordered Tata Daewoo Commercial Vehicle Co. to call back around 3,000 trucks for problems in the steering column ... Free repair services would be provided to owners of such vehicles at Tata Daewoo maintenance shops in the country starting from Monday, the ministry said ... Tata Daewoo Commercial Vehicle Co. is an Indian-controlled joint venture here as India's top automaker, Tata Motors, purchased South Korean truck maker Daewoo... (Xinhuanet, China)
Tata Daewoo to recall 3000 trucks Oct 18, 2009
Tata Daewoo ordered to recall 3,000 trucks in SKorea- Automobiles-Auto-News By Industry-News-The Economic Times ... Tata Daewoo ordered to recall 3,000 trucks in SKorea18 Oct 2009, 1109 hrs IST, AGENCIES ... SEOUL: South Korean authorities have ordered Tata Daewoo Commercial Vehicle, an Indian-controlled joint venture here, to recall around 3,000 trucks for safety reasons, officials said on Sunday. (India Times)
Opel deal may be signed this week: GM chief Oct 15, 2009
He was speaking during a visit to the plant of South Korean subsidiary GM Daewoo. The US auto giant is trying to secure hundreds of millions of dollars in fresh financing for the unit. (Yahoo! Asia News)
GM Reiterates Joining GM Daewoo Rights Offer: CEO Oct 15, 2009
Fritz, speaking to reporters at a GM Daewoo plant on the outskirts of Seoul, also said he had had "very positive" dialogue with the unit's main creditor, the government-run Korea Development Bank (KDB) ... Last month, GM Daewoo Automotive and Technology said it would raise 491 ... It was not clear whether his remarks meant if he would accept KDB's demands that GM raise more money for GM Daewoo, or face the calling back of maturing loans and foreign exchange forward contracts. (ABC News -- Wire)
GM chief seeks fresh loans from SKorean bank Oct 14, 2009
" onclick="Next();" src="/images/butt_next (Channelnewsasia.com)
GM seeks loans from S Korean bank Oct 14, 2009
A GM Daewoo spokesman said that GM CEO Fritz Henderson will meet top officials of state-run Korea Development Bank (KDB), the key creditor of GM Daewoo Auto and Technology. The meeting comes a week after the bank threatened not to roll over loans or provide fresh funds to GM Daewoo unless the US parent agrees to its demands ... "Today's meeting between Henderson and KDB officials is expected to focus on our request for loans," a GM Daewoo spokesman told AFP, declining to give details. (India Times)
18m Freeview homes in TV retune Sep 30, 2009
The boxes which will no longer work are: the Daewoo models DS608P and SV900, Labgear DTT100, Triax DVB2000T and Bush IDVCR01. To find out how to retune, consult your instruction manual or visit the TV Re-tune website for a comprehensive list of re-tune guides. (BBC News -- UK)
GM exec says balance of power shifts with Opel deal Sep 17, 2009
CHEVYS FROM KOREA'S DAEWOO. Forster indicated what he would focus on as a CEO of New Opel during the dinner. (Yahoo News -- Press Releases)
U.S. Economy Facing 'Clunker' Hangover Sep 2, 2009
But GM's Daewoo unit, which is seeking new financing from the state-backed Korea Development Bank, posted a sales decline of almost 23 percent. 2009 Reuters. (Newsmax)
General Motors' Korean Unit Debuts Spark, Key to Asia, Minicar-Led Revival Aug 19, 2009
Incheon, South Korea-based GM Daewoo has become the global center for GMs development of mini and small cars, as the carmaker adds more fuel-efficient vehicles amid rising concern about oil prices and the environment ... The Spark can trigger a sales recovery for GM and help cement GM Daewoos role within GM, said , a Seoul-based analyst at Woori Investment & Securities Co. It has a symbolic importance for both GM Daewoo and its parent ... GM Daewoo spent 295 billion won ($236... (Bloomberg -- US)
Asian stocks drift on warnings of uncertainty Aug 11, 2009
"It will be difficult for the South Korean or other Asian central banks to raise interest rates before the Fed moves," said Seo Chul-Su, an economist at Daewoo Securities in Seoul. "Asian countries are still heavily dependent on the global economy.". (Sydney Morning Herald -- Business)
Holden chief steps down Jul 24, 2009
He will be replaced by Alan Batey, currently head of sales at Holden, and was previously vice president of commercial operations of GM Daewoo ... Before coming to Holden as head of sales in 2006, Mr Batey had worked in sales, marketing and management in GM's Middle East operations, European operations, and GM Daewoo. (Sydney Morning Herald -- Business)
GM gears for new era Jul 10, 2009
2002: GM spends $251 million on 42 percent stake in South Korea's bankrupt Daewoo Motor and names it GM Daewoo Auto ology Co. 2004: Last model year for Oldsmobile. 2007: GM loses $38. (Erie Times-News, PA)
GM Faces `Cultural Change' as German, Other Alliances Gain Say in Detroit Jul 8, 2009
Diplomacy, not dictates from headquarters, now becomes pivotal for the biggest U.S. automaker, said , the Asia-Pacific operations chief who previously led the GM Daewoo alliance in South Korea. It is a cultural change, theres no question about it, Reilly said. (Bloomberg -- Germany)
GM's Korea Problem Jul 7, 2009
The automaker's Korean subsidiary, GM Daewoo, is losing money and facing a liquidity crisis ... GM Daewoo Auto ology lost $702 million in 2008, and this year its sales are off by nearly half, to 261,000 vehicles in the first six months ... "Things look ugly at GM Daewoo," says Stephen Ahn, head of research at brokerage LIG Investment ities in Seoul. (BusinessWeek)
South Korea to Spend $84 Billion on Energy Efficiency, Cutting Oil Imports Jul 6, 2009
The government is showing strong resolve to develop fuel- efficient industries amid slow economic growth, Choo Yeon Hwan, an analyst at Daewoo Securities Co., said by telephone in Seoul. Shares and earnings of related companies and industries may rise, helped by the strong support. (Bloomberg -- Asia)
* G8 to discuss land grabs by the rich Jul 5, 2009
Last year South Koreas Daewoo signed a 99-year lease for 1 ... In Madagascar, the Daewoo agreement was seen as a factor in the subsequent uprising that led to the ousting of president Marc Ravalomanana. (Taipei Times, Taiwan -- Business)
Great ute of China could start a price war Down Under Jun 27, 2009
"The experience [helping start up Hyundai, Daewoo and Kia] has taught us that Australians are fairly receptive of new brands.". Mark Green, of ad agency Three Drunk Monkeys, who worked on Toyota ads for years, said it would be foolish for GWC to hide its Chinese origins. (Sydney Morning Herald -- Australia)
Amber Alert Canceled For Missing Salinas Girl Jun 26, 2009
Benegas was driving a green Daewoo sedan with an unknown license plate, authorities said. Roldan, who is Hispanic, 5 feet tall and weighs 116 pounds and has brown hair and brown eyes may have gone willingly with Benegas, Police said. (TheSanDiegoChannel.com, CA)
Ideal Motors, under bankruptcy plan, clears its SV lots Jun 5, 2009
According to previous court records, the corporation was an umbrella organization for Ideal Automotive Group, Ideal Suzuki, Ideal Cars, Ideal Mitsubishi, Ideal Daewoo and Wildcat Mitsubishi. The corporation had operations in Sierra Vista, Huachuca City and Tucson. (Sierra Vista Herald, AZ)
Holden gets life in GM bankruptcy Jun 3, 2009
Only three in the Asia-Pacific region made the cut: Holden, Shanghai GM (China) and Daewoo (South Korea). Mr Reuss thanked the Federal Government, which has pledged $149 million towards the cost of developing an Australian-made Cruze, GM's entry in the growing mid-size market dominated globally by the Toyota Corolla and the Mazda 3. (Sydney Morning Herald -- Australia)
Tata Motors eyes three-pronged strategy to reduce debt Jun 3, 2009
Aside from monetising its investments in listed companies, Tata Motors could also look at a possible stake sale in its unlisted subsidiaries such as HV Axels, Tata Daewoo Commercial Vehicle Company, Tata Motors Finance, HV Transmissions, Telco Construction Equipment [Telcon] and Tata Technologies, an investment banker said ... Media reports at the ti noted private equity interest in Tata Technologies, as well as the companys plans to list its Korea-based subsidiary, Tata Daewoo. (FT.com -- Markets)
Chevy chased Jun 3, 2009
And it produces Buicks, seen as a luxury brand in China, and smaller vehicles, based on the Daewoo Matiz (Korea's Daewoo is also owned by GM). But is faced with fierce competition from Chinese manufacturers, who have undercut GM on price in the small vehicle sector and copied ITS designs for both large and small vehicles. (BBC News -- Business)
9 troubled Korean firms Jun 3, 2009
The troubled chaebols: Dongbu, Kumho Asiana, GM Daewoo Auto ology, Aekyung, Hynix, Eugene, Daeju, Tong Yang Major and Taihan Electric Wire, the report said. That article can be read. (EETimes)
GM's Asian Units to Operate Normally, Will Be Part of Reorganized Carmaker Jun 2, 2009
The automakers South Korean unit, GM Daewoo Auto & Technology Co., said it aimed to win funding from state-run Korea Development Bank within the next 60 to 90 days. GM Daewoo will continue to lead GMs small-car development, Chief Executive Officer said. (Bloomberg -- Japan)
Bankrupt GM bullish on Asia Jun 2, 2009
Easing some of those concerns, the head of GM Daewoo Auto ology said on Tuesday the South Korean unit expected to reach an agreement on financial support with state-run Korea Development Bank (KDB), its biggest creditor, within the next two to three months. GM Daewoo CEO Michael Grimaldi added the company planned to keep annual investment steady at around 1 trillion won ($811. (India Times)
Tata Motors rolls out World Truck May 29, 2009
The product has been jointly developed by Tata Motors and its two subsidiaries Tata Daewoo Commercial Vehicle Company in South Korea and the Tata Motors European Technical Centre in the UK.. The auto major has made an investment of Rs 1,000 crore in developing the world truck. (India Times)
Your say Will Holden survive? May 29, 2009
Same for exposure to Daewoo, (owned by GM too). Their new "Cruze" mid-size car which they are putting a lot of hopes on is from Daewoo ... The majority of the produce is rebadged Daewoos, poor on quality and overpriced. (Sydney Morning Herald -- Business)
Tata Motors launches new line of trucks May 28, 2009
They will be produced initially in India and South Korea, with Tata subsidiary Tata Daewoo Commercial Vehicle Co.. Tata Motors said Wednesday night that it completed refinancing of the $3 billion bridge loan it took out to finance its acquisition of Jaguar and Land Rover from Ford Motor Co. last year. (OregonLive, OR -- Business)
Outsourcing's third wave May 27, 2009
3m hectares half the island s arable land to Daewoo Logistics, a South Korean company, fanned the flames of opposition and contributed to the president s overthrow. In Zambia, the main opposition leader has come out against China s proposed 2m-hectare biofuels project and China has threatened to pull out of Zambia if he ever came to power. (The Economist)
GM Exchange Offers for Outstanding Public Debt Expire May 27, 2009
35 million cars and trucks globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Hummer, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. GM's largest national market is the United States, followed by China, Brazil, the United Kingdom, Canada, Russia and Germany. (Canada Newswire)
Holdiman: Chrysler decision not final May 16, 2009
huskernut wrote on May 15, 2009 8:45 AM:" I'd buy a Daewoo b4 a Chrystler product. Ford will survive, the quality of their vehicles HAS certainly improved, NOT something I would have said 10 years ago.Ultimately Chrystlers management is responsible for all of this. The unions merely took what they could barter for.UAW needs to wake up. Hint, Hint waterloo ". oratly wrote on May 15, 2009 9:58 AM:" I am not at all surprised Holdiman is getting the ax. Chrysler execs aren't looking at tenure or... (Waterloo Courier, IO)
GM to import cars from China? May 13, 2009
Most likely candidates would be small vehicles similar to the planned Chevy Spark, a minicarthat's going to be made by GM in South Korea where it has its Daewoo subsidiary. China's auto industry has grown so fast -- sales this year have outpaced those in the U.S. -- that an influx of Chinese cars has long been anticipated. (USA Today -- Money)
Cars hold up South Korean trade deal May 13, 2009
General Motors, which owns South Korean automaker Daewoo, has largely steered clear of the debate. Although the U.S. trade deficit with South Korea was only about $13. (USA Today -- Autos)
Cruze-ing along Targeted sales of 600 units of Chevrolets new model May 11, 2009
Cruze will be produced at GM Daewoo Auto ology Cos manufacturing centre in Gunsan, South Korea and a new plant in Norsom, China. On the choice of Malaysia for Cruzes Asean debut, Liu said GM regarded the country as an important market and wanted to support local Chevrolet distributor HICOM-Chevrolet Sdn Bhd in establishing the Chevrolet brand. (The Star Online, Malaysia -- Business)
Wealthy foreigners taking over huge tracts of African land May 6, 2009
In Madagascar, there was an uproar when a South Korean company, Daewoo Logistics, announced a 99-year deal to lease 1 ... The Daewoo deal shocked people in Madagascar because of its massive scale, its secrecy and the perception that the Koreans would be shipping food out of the country at a time when many of its people are malnourished and hungry ... Some felt that the Daewoo deal had echoes of the colonial era, when Madagascar's French masters took huge swaths of farmland for themselves. (Globe and Mail)
Dar Davis: 10 cars that can save Detroit (547) Apr 28, 2009
Knowing that the Cruze is a product of GM's Daewoo operation in Korea makes me pause. With Hyundai and Kia quality gaining by the day, maybe my worries are groundless. (The Herald-Palladium)
Nduom Proposes Economic Stimulus for Ghana Apr 4, 2009
Goldstar, Hyundai, Samsung and Daewoo all Korean brand names well-known in Ghana were nurtured and promoted with low-interest government loans, tax incentives and export/import facilities. The question is where are the Ghanaian brand names. (Ghana Web, Ghana)
How GM Built Factories in Uzbekistan While Closing Them in Detroit Apr 3, 2009
Recent moves: On March 26 of this year, UZ-Daewoo, a venture partly owned by GM through its Korean subsidiary Daewoo, announced a plan to open a new car plant in Tashkent, the capital of Uzbekistan, to produce 15,000 Chevrolets per year and create 1,200 jobs ... Along with local partner Uzavtosanoat, GM has been producing Chevrolet and Daewoo models in Uzbekistan for sale domestically and throughout Central Asia since 2007. (Slate)
GM Chief Rick Wagoner Said to Step Down as Automaker Awaits Bailout News Mar 30, 2009
He used the purchase of South Koreas Daewoo Motor Co. to expand GMs overseas sales 51 percent to 5. 5 million cars and trucks by 2007. (Bloomberg)
SA's five cheapest cars Mar 25, 2009
By simply slapping a Chevrolet bowtie on the grille and a new name on the back, GM transforms the Daewoo Matiz from South Korean wannabe to true-blue American legend. Well, superficially at least. (iAfrica.com)
Corporations in Burma Mar 23, 2009
Companies Operating in Myanmar Profit at the Expense of the People. Despite being ruled by a ruthless military dictatorship, Burma is a country that still manages to attract foreign investment and multinational corporations. (Suite101.com)
'People's car' Nano to go on sale in India Mar 23, 2009
Meanwhile, Tata Sons, parent of Tata Motors, is weighed down by debt from a buying spree this decade, including Tetley Tea for $407 million in 2000, Daewoo Commercial Vehicle for $102 million in 2004, Corus Steel for $12 billion in 2007 and Jaguar/Land Rover for $2. 3 billion last year. (USA Today -- Autos)
Kumasi Boils - Daily Guide Mar 10, 2009
The 30-year-old Cedi, it would be recalled, was on Thursday remanded by a Kumasi Circuit Court for attacking and completely burning a Daewoo Lenox saloon car belonging to one Frank Appiah aka Appiah Stadium a popular serial caller of the NPP.. The suspect who was hauled to the court on two counts of arson and robbery pleaded not guilty to the charges and is to reappear on March 19 this year. (Ghana Web, Ghana)
CHAT TRANSCRIPT: Healey answers your car questions Feb 28, 2009
So, theoretically, GM's actions re: Saturn and Opel suggest less likelihood of Euro designs in the U.S. You'll note that even though GM has praised Opel as the company's small-car expert, it went to its Korean unit (Daewoo) to get the U.S. market Chevy Aveo. Ford's planning to start bringing Euro-based models here the next year or two. (USA Today -- Money)
GM Aims to Raise $6 Billion From 5 Foreign Govts Feb 19, 2009
Similarly, a South Korean government official Wednesday reaffirmed the government's stance earlier this month when it rejected a request for financial aid from GM Daewoo Auto & Technology Co., the South Korean unit of General Motors Corp.. GM didn't provide details on whether non-U.S. funding is contingent on backing from the Obama administration, or whether part of it would be garnered on a secured basis. (SmartMoney)
Chevrolet shows some Spark Feb 12, 2009
The brand's current small car is the Aveo, but that model is licensed from Daewoo ... The Spark is not home-grown, it is also from GM Daewoo and will be released in Korea this year. (CNET News)
South Korea turns down GM funding plea Feb 12, 2009
GM Daewoo Auto & Technology Co. president Michael Grimaldi and other company executives made the request during a meeting Wednesday with the head of the country's commerce ministry, said GM Daewoo spokeswoman Lim Young-mi ... Lim said GM Daewoo South Korea's third-largest automaker wants funding to help with development of new vehicle models but doesn't need government money for its daily operations ... Oh Ji-won, a spokeswoman for the Ministry for Knowledge Economy, confirmed the meeting took... (International Herald Tribune -- Sports)
