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As a dealer principal of a metro Atlanta Daewoo store, I must admit that I am not surprised by your review of the General Motors-Daewoo deal (“Despite GM deal, analysts see tough times for Daewoo in U.S.,” Sept. 24). For months, Automotive News has taken every opportunity to slam Daewoo Motor, and when a deal was finally struck, more shots were taken.
While Gary Connelly (Daewoo Motor America’s senior vice president of marketing) is excited about the deal, you chose to highlight the quote from John Casesa, a Merrill Lynch automotive analyst: “I don’t think it (Daewoo) has much value at all in North America. GM is already overloaded with brands, and Daewoo has not established much of a market presence at all.”
Quite frankly, in view of the current U.S. market situation, Merrill Lynch analysts don’t have much credibility these days.
My business partner, Mark Brandt, and I are thrilled with the prospects of being associated with GM. The alliance should solve all the obstacles mentioned by Jeff Schuster of J.D.Power and Associates.
Strangely enough, the world’s largest automaker may be able to assist Daewoo with national advertising, product lineup and consumer confidence.
Additionally, being “stuck in the extreme low end of the market” may not be such a bad thing for the foreseeable future.