NEW DELHI - Daewoo Motor Co. plans to export Indian-built Matiz models to Europe to meet growing demand.
Daewoo already has one order for 1,000 Indian-built cars. More are expected as Matiz sales increase in Europe. The car has grown in popularity with car rental fleets, particularly in southern Europe.
Min Byung-Soh, deputy managing director of the Matiz plant near Delhi, told newspapers here he hoped to export up to 5,000 cars a year to Europe.
'The sustained demand for Matiz in Europe has forced us to consider India as an export base to support our plant in Korea,' Min said.
He said the cars built in India match the Korean-made Matiz in quality. In fact, the demand from Europe is welcome. The Matiz has not performed as well as Daewoo had hoped in India, where it competes with the best-selling Maruti 800.
Italy is the Matiz's biggest market in Europe. Daewoo sold 22,952 units there from April to August this year.