Daewoo stores market Daewoo Electronics products under their "Trutech" brand on an ODM basis. In 2004, General Motors pulled the Daewoo brand of vehicles out of Australia and New Zealand, citing irreparable brand damage. Later that same year, GM announced that Daewoo Motors in Europe would change its name to Chevrolet on 1 January 2005. In 2005, it was announced that Daewoo cars would have a Holden badge in Australia and New Zealand. In South Africa, Thailand, and the Middle East, Daewoo models were already branded Chevrolet. In South Korea, Daewoo was renamed GM Korea. As part of the company reorganization,
Daewoo Tico Austria and Poland. It was also exported to Latin America where it also was named Daewoo Fino for some markets. It was especially popular in Peru, where it was one of the most popular car models used for taxi services. Daewoo expanded at the beginning of 1995, but the Tico was never sold in any of these markets, although its successor, the Matiz, was launched there in 1998, and went on to be a sales success. Over its years of production, the Tico underwent major modifications to its specifications, mostly to the engine. Originally equipped with a carburetor and producing