Daewoo unveils small car

Awasthi was however silent on the name of the car and said that it would be announced close to its international launch in February-March. Fitted with a three cylinder multi-point fuel injection engine, the car weighs 770 kgs. Production of D’Arts in the country will initially start with 50 per cent local content. This is likely to be stepped up to 70 per cent by the end of the first year. "We are commited to develop India as a major manufacturing and sourcing base. We are the largest foreign investor in the Indian auto industry," chairman, Sung-Hak Park said. "No serious auto maker in the world can afford to ignore the Indian market," Awasthi added.

Leganza, Daewoo’s new luxury model will be launched early 1999. With this, the company will have a presence in the small, mid-size and luxury segments.

"The model has been tested during the last six months over 80,000 km on all types of terrains. Suitable changes have made to adapt the model to Indian conditions," he said.

D’Arts will be launched in Korea in February-March this year and later in Europe, Asia, Middle East, Africa and Latin America. It will be sold worldwide under the same brand name. Besides Korea and India an unidentified plant in Eastern Europe will be the third manufacturing base for M-100.

The company plans innovative marketing, competitive pricing and contemporary styling for D’Arts. Direct marketing with CD-ROMs in co-ordination with dealers, registration over the Internet, special preference for Cielo customers and families, women consumers and citizens aged above 50 are the highlights of Daewoo’s marketing strategy for its five door, hatchback small car.

"Export potential is high because there will be only three bases. But, we will initially be concentrating on the local market," Awasthi said.