Car giants unveil new models |
http://www.sina.com.cn 2003/04/21 11:44 Shanghai Daily |
Despite anxiety over SARS, global car giants are racing to launch new products at the Shanghai Auto Show 2003 with extravagant promotion campaigns. The country's largest-ever auto expo, opening today at the New International Expo Center in Pudong, has attracted more than 730 companies from 23 coun-tries and regions. It covers a record 81,000 square meters of exhibition area. A quick tour of the show, which runs through Sunday, reveals that intensifying competition in China's auto market has forced foreign and domestic carmakers to compete in more diversified segments. Following last year's explosion in demand in China, hardly a week has gone by this year without an automaker unveiling a model, opening a plant or announcing an increase in capacity. About 40 new models are expected to be unveiled this year. National car output is expected to rise by 2 million units this year. Car sales in China jumped 56 percent to 1.126 million units in 2002, making it one of the world's fastest growing auto markets. An unprecedented range of economy cars from local manufacturers, mainly joint ventures with global auto giants, played a major role in the country's growing car output. However, entry-level models priced around 100,000 yuan (US.046) are not the stars of this year's auto show. Shrinking profits, due to head-on competition, have forced automakers to shift their focus to mid-size cars. Shanghai General Motors Corp, the 50-50 joint venture between the world's largest automaker and Shanghai Automotive Group, debuted its Buick Excelle mid-size sedan yesterday. "The unveiling of the Buick Excelle symbolizes SGM's entrysintosthe medium sedan segment in the Chinese market," said Chen Hong, general manager of Shanghai GM. "It's an all-new medium segment sedan. SGM wants to sell it to the people, which the company recognizes as 'social leaders.'" Medium cars, often priced between 150,000 yuan and 250,000 yuan, will be the largest part of China's passenger car market and account for 40 percent of the total, he said. Nissan Motor Co, Japan's No 3 automaker, also unveiled its Sunny mid-size sedan yesterday. The car will be rolled out in China this summer. |
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