As part of a rescue package, Daewoo Motor will be a separate business and has already been earmarked for extended loans to win new business. A spokeswoman for Daewoo said: 'The motor side of the business is fine and the creditors have agreed to hold fire while we sort things out. Customers have been asking questions, but they are perfectly happy with the reassurances we can give and we are more determined that ever to keep going and to increase sales. At present we have a very retail rich customer base and we know that has to change if we are to bring in more sales.'
Annual sales are running at 30,000 units and the company is aiming to increase its share of the market from 1% to about 1.25%, a modest target which has been beaten so far this year, with sales running at 1.69%
Among the figureheads for Daewoo in building sales will be the new Tacuma MPV, a competitor to the Renault Scenic and Vauxhall Zafira which goes on sales in September next year. It will be offered with 1.8-litre and 2.0-litre engines, offering 103bhp and 128bhp respectively - a 1.9-litre diesel is also planned - and radical new looks, both front and rear. Seats are expected to be removable to offer a two, five or seven seat configuration. A new Matiz is also being developed to go sale in the Autumn of next year.