Daewoo sales up 60%

Local carmaker Daewoo Automobile Romania has sold 1,800 units in the first two months of the year, which accounts for a 60% increase as compared to the year-ago period. Matiz is the best-selling model, followed by Cielo. Sales for the two models have doubled as compared to the first two months of 2002. Daewoo sold more than 20,000 cars last year, twice the sales reported in 2001. The company’s turnover amounted to $170 million in 2002, including 25,000 engines and 26,000 gearboxes. Daewoo Automobile Romania has invested more than $870m in Romania. ZF