Daewoo Vehicles Can Now Be Serviced at Selected Penske Automotive Centers

17 March 1999

Daewoo Vehicles Can Now Be Serviced at Selected Penske Automotive Centers

    COMPTON, Calif.--March 17, 1999--Daewoo Motor America Inc. and Penske Auto Centers Inc. have signed an unprecedented agreement that allows owners of Daewoo vehicles to have scheduled maintenance, repairs and even warranty work performed at 300 selected Penske Auto Centers across the United States.
    Daewoo's unique strategy of using company-owned retail stores, franchised dealers and authorized service locations is designed to provide Daewoo customers the added convenience of having a sales or service facility located near them.
    "Penske Auto Centers are a premier automotive preventative maintenance service provider and have an excellent reputation in the industry," said Ben Rainwater, director of parts and service for Daewoo Motor America. "Teaming up with Penske Auto Center is another step in our plan to provide Daewoo owners with outstanding service," he added.
    "The selected Penske Auto Centers will be stocked with Daewoo parts, service publications and special service tools. In addition, the Penske technicians will receive ongoing service training for Daewoo vehicles and will have direct telephone access to the Daewoo Technical Assistance Center," Rainwater said.
    The plan calls for 200 Penske Auto Centers concentrated in the Northeast and West to be up and running as Daewoo Authorized Service Centers by the end of March to complement the 61 Daewoo Authorized Service Centers already in operation. An additional 100 Penske Auto Center locations will be added as new Daewoo retail sales locations open up across the United States during the next few months.
    Just as Daewoo is known as an innovative global company, Penske Auto Center has earned a reputation for providing the highest quality automotive products and services. Penske Auto Center is a subsidiary of Penske Corp., which is a closely held, diversified transportation services company that conducts its business through a number of wholly or partially owned companies.
    Daewoo Motor America is the U.S. automotive marketing arm of Daewoo Group. Founded in 1967 by Kim Woo-Choong as a small textile importer, Daewoo has grown to become a global company with 1997 sales of $71.5 billion, placing Daewoo 18th in a recent Fortune 500 ranking of global companies.
    In addition to its worldwide automotive operations, Daewoo is engaged in trading, domestic and overseas construction, shipbuilding, and manufacturing heavy equipment, home appliances, textiles and other products. Daewoo also has investments in financial and telecommunications services and operates hotels worldwide.