Around 600 Daewoo Motor dealers are to return four billion won (about $US3 million) in commissions earned from selling taxis to help the car maker’s financial health, the Korea Herald reported in its online edition.
The newspaper said that Daewoo Motor Dealers Council members made the decision voluntarily in answer to campaigns across the country to help the financially-troubled carmaker.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Korea Herald said dealers would repay all but 150,000 won of the 750,000 won (about $US580) commissions earned through taxi sales from this month until the end of the year.
Daewoo Motor estimates that the commissions could amount to around 4 billion won, as around 1,000 Leganza and Magnus taxis are sold monthly, the newspaper added. Daewoo plans to use the funds for marketing.
The council donated 500 million won ($386,100) to the car maker early last year, the Korea Herald said.
To view related research reports, please follow the links below:- The world’s car manufacturers: A financial and operating review |
