Daewoo

Daewoo, was once a prominent name, but it has a history marked by rapid growth and significant challenges. Founded in South Korea in 1967 as part of the larger Daewoo Group, the company initially focused on building cars under license from General Motors (GM). This relationship was a stepping stone to establish its presence.

In the 1970s and 1980s, Daewoo expanded its operations beyond South Korea, into markets such as Europe and other parts of Asia. During this period, the company started developing its own models, moving away from assembling vehicles under GM license. Models like the LeMans and the Espero were among the first independent designs that helped establish Daewoo as its own brand.

The 1990s marked a period of significant expansion. The company made aggressive investments in new markets, including Eastern Europe and India.  They launched new models like the Lanos and Nubira. These vehicles were more affordable and aimed at first-time car buyers and those looking for lesser expensive options.

Daewoo Becomes GM

Unforturnately, their rapid expansion came at a cost. The Asian financial crisis of the late 1990s hit the company hard.  In 2001, bankruptcy was declared and a significant portion of its assets was acquired by General Motors. This acquisition led to the creation of GM Daewoo Auto & Technology (GMDAT).

The brand continued to produce cars for the South Korean market and for export under various GM brand names. The name was gradually phased out, and in 2011, GM Daewoo was renamed GM Korea. The former Daewoo models continued to be sold in many markets as Chevrolets.

Today, the brand no longer exists, but its legacy continues under the GM Korea banner. The company still plays a role in GM’s global operations, producing small to midsize vehicles. The story is, unfortunately, one of rapid rise and equally rapid decline.

If you want to check for recalls, try this.  Visit our list of common manufacturer issues for specific vehicles to see if yours is on the list.