SVW, SGM race to unveil new models
11/11/2005 16:43
Jane Chen / Shanghai Daily news
To gain an upper hand in the fiercly competitive automobile market, two
Shanghai-based automakers are rushing new models to market which are targeted at
the mid-and high-end sector, Eastday.com reported. Shanghai Volkswagen
Automobile Co Ltd, a 50-50 joint-venture between Shanghai Automotive Industry
Corporation Group and the German Volkswagen AG, announced yesterday the launch
of six new models of its Passat sedan, while SAIC's other joint-venture,
Shanghai General Motors Corp, has unveiled three models of the new Buick GL806
to consolidate its pole position in China's upscale, multi-purpose vehicle
market. Based on the results of SVW market research, the first batch of new
Passats will come in six colors, with inky blue added to the previously
available black magic, yellow, diamond silver, urban grey and candy
white. This edition, a Sino-German hybrid design, is SVW's new flagship
model, whose prices were not revealed in the Eastday report, however. Price
tags on SGM's new Buick start low from 210,000 yuan (US$15,958) as a way of
attracting individual buyers. Despite that, analysts predicted individual
business would not stimulate the MPV business overall. Individuals as a
group stand at 10 percent of the total buyers, according to Rao Da,
secretary-general of the National Joint-Commitee of the Passenger Car
Industry. Data from the association indicates that China's MPV sales in
October dropped 14.1 percent year-on-year, double the rate of decline in the
passenger-vehicle market as a whole.
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