GM/Daewoo "Delay" New Small Car
GM’s troubles are hitting home. ALL its homes. Reuters reports that GM’s Korean division Daewoo—provider of the execrable vehicle known in the US as the Chevrolet Aveo—is getting the snot kicked out of it in its home market. “GM Daewoo is struggling. It is asking for additional loans from banks, including state-run Korea Development Bank, after using up $2 billion in credit lines.” Oops. Hey, did you know that Daewoo now accounts for a quarter of ALL of GM’s [soon to be formerly] worldwide automotive production? That’s a salient fact because we now learn that the Aveo’s replacement, codenamed T300 and scheduled for April 2010, has been back burnered. To January 2011. In theory. In practice, any such delay is most definitely not a good thing, as its fellow Korean, Hyundai, is planning to cap Daewoo’s ass [paraphrasing]. And anyone else at the bottom of the ladder, anywhere in the world, including China and the US. So can the Chevy Cruze fill The General’s small car gap? Place your bets here. Oh wait, you already have [via Uncle Sam].
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There's good Korea, and then there's GM Korea. While the streets around here burst with newer-generation Hyundai Santa Fes, Sonatas and WTF-lime-green Accents, Daewoo continues to build rolling turds that only a pathological tightwad could love.
Don1967: I'm a pathological tightwad and I resemble that remark...
I meant "pathological tightwad" in the nicest way of course :)
don1967: LOL