Fleet News

Daewoo gives reassurance

DAEWOO is assuring its fleet customers that UK operations will remain unaffected by the latest developments in efforts being taken to salvage the debt-ridden company. Korean chairman and founder Kim Woo-Choong and 13 senior executives have offeedr to resign.

A spokesman for Daewoo Cars in the UK said: 'We are undergoing a restructuring programme which has seen representatives come in from the Korean government, banks and creditors working in our offices to get the company out of trouble. These people are not administrators and we haven't gone into receivership.'

He also insisted that the turmoil in Korea would not impact on fleet and retail operations in the UK - or detract from the talks on a strategic alliance with General Motors. 'Cars and parts are being produced as normal and towards the end of this year we should hear the results of the GM talks towards the end of the year,' said the spokesman.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment


No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee