Daewoo Motor America Partnering With debis for Retail Financing

11 September 1998

Daewoo Motor America Partnering With debis for Retail Financing

    COMPTON, Calif.--Sept. 11, 1998--Daewoo Motor America Inc. (DMA) Friday announced that it has signed a long-term agreement with debis Financial Services Inc., an arm of Daimler-Benz InterServices AG.
    Under the agreement, debis will provide consumer financing for Daewoo's line of automobiles, which go on sale in the U.S. this month.
    debis will provide a full array of retail finance programs to customers of Daewoo's first 15 company-owned stores, which are located in Northern and Southern California, Illinois, Georgia, Florida, Pennsylvania, New York, Connecticut, Rhode Island and Massachusetts.
    "Our financing package is competitive and fair to everyone, especially our customers," said M.H. Kim, president of DMA. "It supports our high-value, one-price approach to the U.S. marketplace, and will appeal to college markets, our primary target segment."
    "This is a major landmark for debis, and the first of what we believe will be more relationships of this kind with auto manufacturers," said Brian Reed, managing director of debis. "We see Daewoo as an excellent strategic partner for us. And we share a vision of the automotive marketplace that is both entrepreneurial and practical."
    DMA, with headquarters in Compton, is the U.S. automotive subsidiary of Daewoo Group, the world's 18th largest industrial firm.
    Daewoo is selling three stylish, high quality cars in the U.S. market -- Leganza, Nubira and Lanos -- through its company-owned stores.
    Based in the Dallas suburb of Roanoke, Texas, debis provides financial services to automotive customers and dealers outside the Daimler-Benz Group. It currently serves more than 400 U.S. auto retailers, and its current service portfolio exceeds $400 million.