Daewoo Motor America Cancels Participation In L.A. Auto Show
12 December 1997
Daewoo Motor America Cancels Participation In L.A. Auto ShowLOS ANGELES, Dec. 11 -- Daewoo Motor America today announced that it will not participate in the 1998 Greater Los Angeles Auto Show, Jan. 2-11, at the Los Angeles Convention Center. Although this was to be the first official unveiling of the U.S. versions of the Lanos, Nubira and Leganza models, officials cited that it was too soon to showcase the cars. "Breaking into the U.S. auto market will be a major milestone for Daewoo in 1998. Daewoo Motor America is on track to launch next year," said Y.T. Song, president of Daewoo Motor America (West). Daewoo Motor's most recent successful launch was in Great Britain, where sales and popularity of the cars have exceeded even auto analysts' expectations. "We have achieved remarkable success in England and throughout Western Europe. We intend to carry that momentum in the U.S.," said Song. Daewoo Motor America is part of the Daewoo Corporation, a highly diversified manufacturing and service company, based in Seoul, Korea. With more than $67 billion in sales, Daewoo Corporation was ranked as the 24th largest company worldwide by Fortune magazine. In addition to cars, Daewoo Corporation is involved in numerous industries including heavy machinery, light machinery, ship building, robotics, telecommunications, electronic products, financial services, and others. Daewoo employs over 110,000 people internationally. SOURCE Daewoo Motor America