NEW DELHI: One of the persons behind the Indian small car market revolution in the late 90s, is no more. SG Awasthi, the former chairman-and-managing director (CMD) of Daewoo Motors India and former managing director of Jaypee Hotels, passed away on Thursday, September 22, 2022, at the age of 79.
An alumnus of the oldest engineering institution in India, Roorkee College of Engineering, Awasthi joined the Tata Group in 1966 and worked his way through the ranks at TELCO in Jamshedpur.
In 1984, he joined the DCM Group of Companies and climbed the ladder of success to take charge as the managing director of the company in 1991.
He caused a buzz in the small car market by launching Daewoo’s hatchback edition, Matiz. “It will be the jeans among cars, trendy with high utility. Don't take us lightly," he had said. Matiz became one of the hottest selling cars in India.
In 2000, Awasthi left Daewoo motors and joined the Jaypee Group as managing director of Jaypee Hotels Ltd and later also took charge as the vice chairman of Jaypee Greens.
He also served as the non-executive independent director of Bharat Gears Limited until 2017.
He is survived by his wife and two sons.