Daewoo’s Nubira-II to cost Rs 11.5 lakh

He, however, declined to comment on the pricing of the new car but company sources said the model would be priced at about Rs 11.5 lakh.

Daewoo is already present in the small and mid-sized car segments. With the launch of Nubira-II, the company would be in a position to offer an entire range to its customers, Awasthi said.

He ruled out launch of any other car model, multi-utility vehicle (MUV) or sports utility vehicle (SUV) in the near future.

Asked about the performance of Daewoo India’s commercial vehicles, Awasthi said the company was reviewing entire operations of its commercial vehicles division.

"Commercial vehicles segment is not growing very fast as it has a different product profile. We are trying to review the entire operations and soon decide about it," he said.

The Indian version of Nubira would be modified to suit local road and climatic conditions and would have better suspension to face the Indian driving conditions.

In Korea, Nubira is available in four-door, five-door and wagon forms but in India, initially, four-door version would be introduced.

Korean Nubira is fitted with 1600cc and 2000cc petrol engines. It also has power steering, tiltable steering column, body coloured bumbers, body side molding and power windows.

Daewoo India has also planned to sell 6,000 units of mid-size cars–Cielo, Nexia and Nubira-II in 2000-01, Awasthi said.

It has also targeted to sell 80,000 units of its small car Matiz during the current fiscal year compared to 35,000 units sold in the same period last year.

The company recorded a 400 per cent growth in sales at 40,217 cars in 1999-2000 as compared to 10,121 cars in the same period of 1998-99.

Its sales have gone up by 436 per cent to 6,215 cars during March 2000, including 6,064 units of Matiz against 1,159 units in the same month last year. The company had sold 4453 vehicles in the month of February 2000.