DMIL is exploring the feasibility of launching Nubira II in sedan and station-wagon versions by the end of the 2000 calendar year, Daewoo India deputy managing director BS Min said here.

"We are planning to introduce Nubira II in India as part of plans to foray into the top-end of the mid-size segment. But a final decision on the launch would be taken only after the sell-off or merger of the parent company is finalised," Min added.

The Nubira II, to be introduced in 160cc and 1800cc versions, would be positioned above the Mitsubishi Lancer. "But the launch model is yet to be finalised."

The car would be introduced with a large local content level as the company is already producing the 1.6 litre DOHC engine at its Surajpur unit in India. "The basic engine is the same but it delivers a greater pick-up and power."

However, DMIL has decided against introducing multi-utility vehicles in India. "Daewoo has a range of MUVs but our study reveals that the Indian market is not yet ready for these models. So we have decided to concentrate on making passenger cars for the present."

It may be recalled that DMIL managing director and CEO Young-Chang kim had recently announced that Nubira II would be launched by November this year in the Rs 9 to Rs 11 lakh price bracket. Daewoo has targeted to sell around 90,000 units of passenger cars in India in the current fiscal as against 40,217 units in the 1999-2000 fiscal.

It expects Matiz to account for 80,000 units in the domestic market and Cielo and Nexia for 6,000 units. An additional 4,000 units of Matiz would be exported from India during the year, Min said.

The company had sold 37,059 units of Matiz during 1999-2000, which included 1,196 units that were exported to Europe and neighbouring countries.