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Daewoo predicts record sales

GM Daewoo has predicted its sales for this year will be up by a record 60% by the end of May.

Rory Harvey, sales director for GM Daewoo says: "We showed faith in the UK public by pulling out the stops to exhibit at the last NEC show and they have repaid us by buying and driving Daewoos in growing numbers."

The Daewoo sales executive forecast that Daewoo would sell 20,000 cars this year before moving up to 26,000 units in 2005 as a growing number of new products are introduced.

Harvey stated that new products developed to embrace European tastes and an expanding network of dealers were the twin platforms for Daewoo growth.

During the first quarter of next year the company will bring a new Matiz supermini and the three-door Kalos to market followed by early 2006 when an SUV, sized between Land Rover's Freelander and Discovery, arrives.

The un-named SUV has styling cues from the BMW X5, Audi A2 and Land Rover's Freelander and will herald the introduction of Daewoo's first diesel engine.

Built in Korea under licence from Italy's VM Motori, the 1.5-litre and 2-litre turbo diesels will feature across the GM Daewoo range, except Matiz. Both the Matiz and SUV will debut at September's Paris motor show.

Under GM ownership, Daewoo's retail network will grow to 100 centres by the end of this year with nationwide coverage.

Nick Reilly, Daewoo president and chief executive, hopes to unveil an "affordable" two-seater sports car, to provide a "hero or halo" product to elevate the brand and generate showroom traffic.

Reilly, former head of Vauxhall, describes Daewoo as the Tesco value for money brand of the motor industry.

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