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Transportation equipment industry

Automotive Industry Update: Key Players and Trends in Asia

Strategic Insights

— 2 min read

Asia's automotive industry witnessed significant developments in 1999, with Holden emerging as the top car seller in Australia. The company's sales of 155,307 vehicles edged out Toyota's 153,066 and Ford's 126,897. Meanwhile, Ford explored opportunities to form a consortium with a Korean company to participate in the Daewoo Motor auction. The negotiations involved a high-level government official and Ford's Asia-Pacific director, Paul Drenko. The talks with Daewoo's foreign creditors also shifted to individual companies, with the debt buyout issue being suspended. In other news, India's rubber sector is expected to experience all-round growth by 2001, driven by the country's economic expansion and automotive tyre sector growth of 14%. Additionally, Fiat sent an executive to Seoul to discuss the potential acquisition of Daewoo Motor, further intensifying the competition to acquire the financially troubled company.

Key Takeaways:

  • Holden sold the most cars in Australia in 1999, with 155,307 vehicles, followed by Toyota's 153,066 and Ford's 126,897.
  • Ford is considering forming a consortium with a Korean company to participate in the Daewoo Motor auction.
  • The debt buyout negotiations with Daewoo's foreign creditors shifted to individual companies, suspending the package approach.
  • India's rubber sector is expected to experience all-round growth by 2001, driven by the country's economic expansion and automotive tyre sector growth of 14%.
  • Fiat sent an executive to Seoul to discuss the potential acquisition of Daewoo Motor.
  • Paul Drenko, Ford's Asia-Pacific director, led the negotiation team that visited the Korea Development Bank and the Financial Supervisory Commission.
  • N. Radhakrishnan, president of the Cochin Rubber Merchants Association, predicted unparallelled growth for the Indian economy with expectations of all-round growth of the rubber sector.
  • The Cochin Rubber Merchants Association is a prominent organization in the Indian rubber industry.

Statistics:

  • 155,307: Number of vehicles sold by Holden in Australia in 1999.
  • 153,066: Number of vehicles sold by Toyota in Australia in 1999.
  • 126,897: Number of vehicles sold by Ford in Australia in 1999.
  • 14%: Growth rate of the Indian automotive tyre sector in 1999.
  • 2001: Expected year for all-round growth of India's rubber sector.

Sources:

  • "Holden sells most cars in Australia in 1999" (Asia Pulse)
  • "Ford wants to form consortium with Korean co to buy Daewoo" (Asia Pulse)
  • "Talks with Daewoo's foreign creditors shift to individual cos" (Asia Pulse)
  • "India sees all round growth of rubber sector by 2001" (Asia Pulse)
  • "Fiat exec arrives in Seoul to discuss sale of Daewoo Motor" (Asia Pulse)

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