Sunday 29th January 1989
Global Motors, the American company that imported the Yugo, filed for bankruptcy. Selling for thousands of dollars less than its nearest competitor, the Yugoslavian-made economy car was popular in the mid 1980s, but the car’s flaws soon became apparent. It was underpowered, unreliable, and it was famously reported that you could punch holes in the body with a wooden pencil. The cars were also poorly warrantied.