Daewoo Motors, a part of Daewoo Group, was a South Korean car manufacturer. It was popular for manufacturing value-for-money cars. The company partnered with Toyota Motor Company to enter the Indian automobile market in 1983. Daewoo gained popularity in India with its Matiz, Celio and Nexia car models. You’ll still find many Daewoo used cars, especially Matiz, in the second-hand car market. As the South Korean government dismantled the parent company National Motors in 1999, their Indian counterpart suffered. In 2003, the company stopped all its operations in India. Though Daewoo cars still possess some demand, unavailability of car parts is a problem. That’s why the resale value of Daewoo second-hand cars is not up to the mark. However, you can get a better deal by selling your Daewoo car to CARS24.
Quick Facts About Daewoo
- Daewoo was established back on March 22, 1967, in Korea.
- Daewoo Motors India Ltd. (DMIL) came into existence in the year 1983 after a joint venture agreement was signed between DCM Toyota Ltd., and Toyota Motor Corporation, Japan on March 15, 1982.
- The company started its production in its Ghaziabad plant in the NCR.
- In July 1995, DMIL rolled out Daewoo Cielo sedan for the Indian market. They started manufacturing their iconic small car Daewoo Matiz in 1998. Daewoo India launched their mid-sized car Daewoo Nexia after that.
- DCM Daewoo sold over 20,000 Cielo cars all over the country through their appointed dealers.
Daewoo - Resale Value
Resale value of Daewoo used cars in India is not good because of two main reasons –
- The company has stalled all its operations in India after the parent company was closed. This led to a drastic fall in its sales and service center, which adversely affected the resale value of Daewoo cars.
- Non-availability of original Daewoo car parts has also driven down the resale value of Cielo, Matiz, and all other Daewoo pre-owned cars.
Resale value of Daewoo cars depends upon many factors including the model, year of manufacturing, car condition, mileage run, number of previous owners, and many more.
Sell off a fair condition, 2003-model Daewoo used Matiz cars in India can get you around Rs. 50,000. However, the resale value will fall if you own a 2002 or 2001 Matiz car. While a 2001 Matiz comes with an estimated resale value of around Rs. 25,000-27,000, a 2002 model will fetch you around Rs. 35,000.
You can, however, sell your used Daewoo car to CARS24.com to get a better resale value. They have over eighty branches all across India. Their proven, simple procedure ensures that you get guaranteed the best price for your Daewoo used car.
Current Daewoo Cars in India - Listing of Daewoo Cars
Currently, there are no new Daewoo cars manufactured in India as the company has wrapped up its Indian and international business. However, Daewoo second-hand cars are available in good numbers. There are basically 3 expired Daewoo car models still available in India in the user cars market –
- Daewoo Cielo – This 1498 cc petrol engine car model was also made available with CNG choice. The engine gave out 79 PS at 5400 rpm and 127 Nm at 3200 rpm.
- Daewoo Matiz – This is one of the most popular cars from the Daewoo stable. The entry-level 796 cc, petrol driven hatchback was able to produce 53 PS at 6000 rpm and 71 Nm at 3500 rpm.
- Daewoo Nexia – The more premium version of the Cielo sedan, this 1498 cc petrol car was slightly more powerful in terms of performance. It developed power and torque output of 93 PS at 5600 rpm and 132 Nm at 3400 rpm respectively.
The automobile company was first established in 1937 as National Motor. In 1962, the name was changed to Saenara Motors and became renowned for selling Datsun Bluebird PL310. In 1965, Saenara Motors was bought by Shinjin Industrial after collaboration with Toyota and the name was changed to Shinjin Motors. Daewoo Industrial Co. was established in South Korea on March 22, 1967. The company became Daewoo Motor Co. in 1983 after Daewoo Group gained control over it in December 1982. The Daewoo Motor Company started its India operations in 1983. Its first industrial unit was based in A-I Surajpur Industrial Area, Dadri, Ghaziabad (UP). It had an annual capacity of manufacturing 15,000 Light Commercial Vehicles (LCVs).
Daewoo – What Makes It Unique?
Daewoo Motor Company was essentially known for manufacturing light commercial vehicles (LCVs) and one of their most popular and iconic models was Daewoo Matiz, which was first launched in the year 1998. Some of the best USPs of the Daewoo brand lied in their built quality, contemporary design, and spacious interiors. In its time, the Cielo sedan with its sharp and premium styling was rated as a sedan with up to date interiors and flawless exterior design. Moreover, after its launch in India, the Matiz hatchback car rated as the cutest small car till date in the country.
Daewoo Matiz small car won two international awards. First, it won the “best small car” award at the British International Motor Show, and second as “the world's most beautiful car” at the L' Automobile Pin Bella Del Mondo contest in Italy.
Sell Used Daewoo Cars in India
Daewoo was the 2nd largest car manufacturing company in South Korea during their glory days. However, after the company was declared bankrupt, most of their cars are now sold in the used car market. As there is hardly any service center for these cars and the original parts are unavailable, the resale value of the Daewoo used cars are very poor. Until and unless your second hand Daewoo car is in fair condition, you will either get a redundant value for your car or the product will be scrapped. In fact, owners of these cars find it difficult to get a genuine buyer.
Every car owner wants a hassle-free way of selling their cars. However, owners of Daewoo used cars in India not only struggle to find a genuine buyer but also find it difficult to sell in an uncomplicated manner. Lack of resale value has also led many owners to scrap their cars. However, the entire process can be made hassle-free if you sell your used Daewoo car to CARS24. They have put into place a simplified and proven process so that the car sellers can get guaranteed the best price. CARS24 has more than 100 branches across the nation. You can visit any branch and get an estimation of the price for your used car. If you are interested to sell Daewoo car, visit CARS24 and get the best possible price in a hassle-free manner.