SVW races into low-end auto market
14/1/2003 15:26
Shanghai Volkswagen Automotive Company Ltd., a Sino-German joint auto
manufacturer, will enter China's economy car market next month with GOL, its
cheapest-yet home car model, according to Xiao Guopu, general manager of SVW
Sales.
Xiao announced the new model yesterday at a press briefing in
Shanghai, saying the first GOL's to hit the market will be compact models, with
price tags between 75,000 yuan (US$9,069) and 90,000 yuan.
The company
will introduce full-size models of the GOL later next year at prices no higher
than 90,000 yuan.
The launch was planned for this month but was postponed
until February because of insufficient production output, according to Xiao. He
said the company, expecting a warm market reception, was worried that inadequate
supply would dampen interest. Technicians need more time to get familiar with
the new model, he added.
Xiao said SVW is eager to tap China's huge home
car market, as one of its latest surveys indicated that the highest demand here
is for cars under 100,000 yuan.
As for the unexpectedly low price of the
new model, Xiao refuted the assumption that it's because GOL shares parts and
equipment with Santana, an old SVW model.
He said GOL is a completely new
model and none of its components are shared with Santana.
In addition to
GOL, SVW plans to unveil a new mid-size POLO in the second half of this year.
Production of the full-size model will be 17,000 this year, and SVW's total car
output for the year is expected to grow 20 percent from last year, to
364,000.
According to its sales plan for 2003, SVW plans to sell 90,000
Passat's, 96,000 Santana 2000's, 85,000 standard Santanas, 58,000 POLO's and
30,000 GOL's.
Jane Chen / Shanghai Daily news
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