In 2000, the first generation underwent over 90 improvements and was re-released as model J150. In Korean market, J150 was marketed as Daewoo Nubira II. Examples of these include an increase in passenger space and reduction in noise, harshness and vibration, particularly from the engine by adding a fourth engine mount and by tuning the intake resonators. In addition, the exterior design was reworked by Daewoo's Worthing Technical Centre in the United Kingdom, creating a more dynamic image.
All Nubiras had a choice of 1.6 or 2.0-litre I4 petrol engines: no diesel version was ever offered.
In 2003, Nubira was replaced by Daewoo Lacetti (model J200), a new Pininfarina-designed sedan, was unveiled, and the expansion of the lineup followed by a presentation of the new station wagon in 2004. However, in some European market, the Nubira name was kept for the sedans and the station wagons.
The Nubira was sold in the United States and Canada from 1999-2002, when it would be replaced by the 2004 Suzuki Forenza/Reno in the United States, and in Canada as the Chevrolet Optra (also introduced in 2004). The hatchback is one of the rarest models of the Daewoos sold in the United States.