6.2.2004
GM Daewoo with new import and distribution company in Portugal

Daewoo vehicles will be imported and distributed in Portugal by the newly established "GM DAT Portugal, Importação e Distribuição de Veículos, Lda." (GM Daewoo Portugal). The new company is a fully owned subsidiary of GM Daewoo Auto & Technology Company (GM DAT) based in Seoul, South Korea.

It will offer agreements to all current distributors and authorized repairers who meet the requirements of GM DAT. The head of GM Daewoo Portugal will be Celso Laires, formerly Sales Manager of Opel Portugal. GM Daewoo Portugal will be partly integrated into Opel Portugal, which, in the course of the transition, will change its name to General Motors Portugal.

Until now, Daewoo cars have been imported into Portugal by D.I.A., a distribution company owned by Santogal. Santogal and GM DAT have mutually agreed to terminate the wholesaler agreement, effective April 1, 2004. The company has taken a strategic decision to concentrate mainly on the retail business.

Daewoo sales in Portugal peaked at over 4000 registrations in both 1999 and 2002. Since the establishment of GM Daewoo in late 2002, the company has completely changed its product portfolio. 2004 will see the launches of more new Daewoo cars on the Portuguese market, starting with the new Lacetti 5-door hatchback in spring and followed by the Nubira station wagon in fall.