Chang’an Automobile plans to expand by selling its vehicles in Europe by 2013, followed by market entry to the US.
Zhu Huarong, vice-president of the company said, “Chang’an started the overseas expansion strategy five years ago, beginning exports to developing countries with light commercial vehicles, including minivans. Now we are targeting the European markets and the United States market to make Chang’an a true international automaker from China.”
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Chang’an aims to have 20% of its total sales in overseas markets, mainly with passenger cars, by 2015.
Currently, under 10% of Chang’an sales are in export markets, with domestic demand driving sales up. The company posted increase in sales by 75% in the first half-year of 2011.
In order to launch a premium brand with regards to overseas expansion plan, Zhu said, “We will invest at least CNY 2bn (US $313m) to develop that brand, to strengthen our brand image in global market”.
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