I believe for a brand to rival Dacia (which goes by as "Renault Logan" in many markets anyway) or Tata, you need a simple brand. I'd take Yugo over Zastava, because:

1. It is simple and easy to pronounce in most langauges
2. It reads "you go" - hardly a better pun for markets like India
3. It can probably be spelt with two Chinese characters with high accuracy
4. Only in the USA is Yugo really remembered as a brand, plus vaguely in Western Europe, neither of which are target markets for the "budget" brand
5. It already has a simple, nice logo:


As you can see - just needs some touch-ups and ready to go

PS. I also like the model names Koral, Florida and Skala - simple and nice for inexpensive vehicles. Your thoughts?