Another Asian Assault Spooks Europe's CarmakersJulia Flynn
It's billing itself as "the biggest car company you've never heard of." Sure enough, few Europeans have heard of Daewoo, let alone thought of buying its cars. But on Oct. 18, the $38 billion South Korean conglomerate took a big step toward changing that. At an auto show in Birmingham, England, Daewoo Motor Co. unveiled a line of hatchbacks and sedans it plans to roll out across Europe next spring. In its first year alone, the auto maker aims to sell 100,000 cars, grabbing 1% of the European market. "I don't think we'll have any difficulties," says Daewoo Corp. Chairman Kim Woo-Choong.
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