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China
Shanghai Automotive Industrial Corp plans to
postpone exports of its self-branded autos from
the end of next year to 2009, aiming to first
build a stronger position on the domestic market.
"The
Chinese auto industry will witness sustained
growth within the next 20 years, and we are
strongly convinced there will be expanding potential
for Chinese auto brands," Chen Hong, president
of SAIC Motor Corp Ltd said.
SAIC
Motor will debut its first model this month,
and mass production will begin by the year's
end. The company will start taking orders through
55 dealers across the country in the initial
stage.
SAIC
Motor plans to launch 30 models in all mainstream
market segment, based on a 13.6 billion yuan
(US$1.7 billion) investment in its self-branded
car program over the next five years.
Domestic
carmakers have been encouraged to roll out their
own models to enhance the competitiveness of
the Chinese auto industry.
Big
state-owned automobile manufacturers such as
First Automotive Works Corp, China's largest
carmaker, Brilliance Automobile Group and privately
owned Geely Automobile Holdings Corp have launched
their own models.
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