Used Smart Cars
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Smart is a German manufacturer of small cars founded in 1994. It launched the eponymous Smart Car in 1998 and has enjoyed worldwide success ever since.
Nicolas Hayek, CEO of Swiss watch maker Swatch, wanted to create an affordable vehicle for young people that could transport two people and a case of beer. He went to Volkswagen to assist him with production of this car. This teaming failed to produce results so Hayek turned to Daimler-Benz. It designed a two-seater model, named the Fortwo and a four-seater model, named Forfour. After building a factory in Lorraine France, the first car was launched successfully in nine European countries in 1998. Hayek however had envisioned the smart car to have a hybrid drivetrain engine rather than the relatively conventional gasoline engine that was used.
Eventually Daimler-Benz bought out the shares owned by SMH (Swatch) and went on to experience quite the substantial loss of 4 billion euros from 2003 to 2006 despite previous attempts of expansion. Smart is now a subsidiary of Mercedes-Benz Cars of Daimler AG.
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