The Car and Truck Fleet and Leasing Management Magazine

Daewoo Motor America Files for Bankruptcy Protection

May 21, 2002

Daewoo Motor America announced on May 16, 2002, that it has filed for bankruptcy protection. Last month GM said it would pay $251 million for a stake in a new company that includes the assets of the Daewoo Motor Co., which went bankrupt last year; however, the sale did not include Daewoo in the U.S.Daewoo Motor America said May 16, 2002 a group of South Korean banks and government agencies will fund it through the summer so it can keep importing parts to service about 160,000 Daewoo automobiles owned in the United States.
Twitter Facebook Google+

Comments

Please note that comments may be moderated. 
Leave this field empty:
 
 

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

FleetFAQ

Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All
Sponsored by

Natural gas is a combustible mixture of hydrocarbon gases composed primarily of methane (CH4).

Read more

Up Next

More From The World's Largest Fleet Publisher