Chinese carmakers bank on new models and technology to lift sales
By Jin Jing and Fu Chenghao |
April 24, 2012, Tuesday
|
Print Edition
Print Edition
CHINA'S automakers displayed stunning new models and improved technologies at the 2012 Beijing International Automobile Exhibition yesterday in a bid to woo more Chinese customers amid slowing growth and fierce competition.
Suffering from weak demand after government purchase incentives expired, domestic carmakers are banking on higher-end models and innovative technologies to propel them.
Geely Automobile premiered its first sport-utility vehicle, the Gleagle GX7, to compete with Volkswagen and Toyota in China's rapidly growing SUV market. Costing between 90,000 yuan (US$14,285) and 120,000 yuan, the model comes with three engine options and higher safety standards.
"We have transformed ourselves and focused on product quality since 2011," said An Conghui, president and CEO of Geely Holding Group, parent of Geely Automobile. "Our target is to build Geely into a globally competent company with customer- and market-oriented products and breakthrough in technologies."
BYD Co introduced the F3 Surui sedan, its first mass-produced vehicle with remote driving technologies, at the auto show which opened yesterday. The firm also presented bi-directional charging and discharging technology, which could turn its model into an energy storage station.
The company also debuted the second generation of its Qin dual-mode electric vehicle concept that promises longer mileage and fuel efficiency of 2 liters of fuel per 100 kilometers.
But foreign automakers also intend to drive deeper into the Chinese market even if domestic vehicle sales growth slowed to 2 percent in the first quarter of this year after a 32 percent surge in 2010.
Foreign carmakers are counting on the China market to drive revenue and offset weak demand in the Western countries. Their line-up at the auto show targets both premium segment and economy cars. Nissan's Infiniti rolled out a new M-Class luxury sedan with extended wheelbase. Ford Motor Co introduced four SUV models.
Suffering from weak demand after government purchase incentives expired, domestic carmakers are banking on higher-end models and innovative technologies to propel them.
Geely Automobile premiered its first sport-utility vehicle, the Gleagle GX7, to compete with Volkswagen and Toyota in China's rapidly growing SUV market. Costing between 90,000 yuan (US$14,285) and 120,000 yuan, the model comes with three engine options and higher safety standards.
"We have transformed ourselves and focused on product quality since 2011," said An Conghui, president and CEO of Geely Holding Group, parent of Geely Automobile. "Our target is to build Geely into a globally competent company with customer- and market-oriented products and breakthrough in technologies."
BYD Co introduced the F3 Surui sedan, its first mass-produced vehicle with remote driving technologies, at the auto show which opened yesterday. The firm also presented bi-directional charging and discharging technology, which could turn its model into an energy storage station.
The company also debuted the second generation of its Qin dual-mode electric vehicle concept that promises longer mileage and fuel efficiency of 2 liters of fuel per 100 kilometers.
But foreign automakers also intend to drive deeper into the Chinese market even if domestic vehicle sales growth slowed to 2 percent in the first quarter of this year after a 32 percent surge in 2010.
Foreign carmakers are counting on the China market to drive revenue and offset weak demand in the Western countries. Their line-up at the auto show targets both premium segment and economy cars. Nissan's Infiniti rolled out a new M-Class luxury sedan with extended wheelbase. Ford Motor Co introduced four SUV models.
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