ВАЗ-2121
In 1995, Gurgel's final bankruptcy was decreed. Gurgel's assets were less than 3% of its debt. In fact, Gurgel's assets were not even enough to pay its former workers. The Brazilian site http://www.gurgelbrasil.com/GURGEL-Jornal-do-Carro_PAG1.htm claims that Gurgel's debt was about US$1,200,000,000. Between 1969 and 1993, Gurgel launched about 12 new vehicles. One of them was the first Brazilian electric car in commercial production, a complete commercial failure. With the sole exception of "Xavante X" and series produced mainly in 1970 decade, no Gurgel product had any commercial success. The "Tocantins" was transformed into "Gurgel Carajás". This vehicle was the leader in sales among off-road vehicles in Brazil, until 1990. Carajás "SUV" was so bad and expensive that when the importation of Lada Niva was authorized in 1990, by Fernando Collor, the Gurgel Carajás went out of production within a few months. Lada Niva got almost all Gurgel Carajás' market even though Lada Niva had to pay an import tax of 85% in 1990. Lada Niva was better and cheaper than Gurgel Carajás. Lada Niva also was a real 4 x 4 drive, while all Gurgel's SUV's were 4 x 2. The Gurgel BR-800 and Gurgel Supermini were both worse than Fiat's Uno Mille, far less spacious, powerful and more uncomfortable.(1)