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As brand mushrooms to the slowdown of China's auto market, worries of a shakeout rise Yet despite the fear, more car brands are launched in China, and existing global brands are stacked to grab a piece of the largest automotive world market.
The latest addition of a new brand called Qoros officially launched Monday by the investment company Israel Corp and China's Chery Automobile Co.
Qoros Automotive Co a 50-50 joint venture between the two companies, headed by the general manager Guo Qian, a Chery official, and former Volkswagen AG executive Volker Steinwascher, Qoros serving as vice president Mr. Steinwascher said in a telephone interview on the weekend that Qoros aims to generate annual sales of about 150,000 vehicles per year by 2015 or 2016, it plans to manufacture these cars in a factory in Changshu, a city northwest Shanghai market and about half of these vehicles in China and export the rest in Europe.
The company, Mr. Steinwascher said, is developing three compact cars, one of which is a sedan and is expected to reach the market in China and Europe by the end of 2013.
The brand competitive advantage, according to Mr. Steinwascher cars that have been designed by experienced engineers with experience working for companies like Volkswagen and BMW AG and sell some 10 lower in retail prices than comparable cars Volkswagen sold in China Qoros engines are designed by technology-Austrian firm AVL List GmbH engine and will be produced and supplied by Chery.
Qoros cars, Mr. Steinwascher said, combine German design quality and craftsmanship with Japanese convenience and functionality to appeal to young, international consumer-minded, urban China targets consumers looking for quality and distinctive style, and they like to be connected, even when they drive, said Executive Qoros.
As ambitious as Mr. Steinwascher and his new car brand in China is perhaps the field is already becoming crowded, even before Qoros first car hits showrooms in late 2013.
If the market has continued to grow slowly, showing weak growth in the single digits for several consecutive years, a shakeout become inevitable, said Yale Zhang, head of consulting firm Automotive Foresight Co in Shanghai M. Zhang noted that the China has about 70 brands of cars produced locally managed by Chinese companies and homegrown global automakers in particular, Daihatsu motor Co Japan left the Chinese market a few years ago when it failed to generate sales a profitable level, he said.
Yet most foreign brands entering China Last week, the Guangzhou auto show, Volkswagen and Fiat SpA of Italy announced its intention to launch the Seat and Alfa Romeo marques next year in China, respectively.
In 2013, the Chinese auto market will also see the addition of many brands in China only at affordable prices launched by foreign joint ventures In August, GM and its Chinese partners have launched the first product of its brand Baojun a compact sedan called Baojun 630 car is priced between 62,800 yuan and 9800 about 73,800 yuan to appeal to people who are becoming rich enough to buy cars.
Nissan Motor Co and its Chinese partner should start their own no-frills brand Venucia China in the first half of 2012 when they start marketing the first product, as a small car brand.
Venucia starts with 100 outlets, mainly operated by current dealers and Nissan plans to add a second vehicle to programming by the end of next year.
By 2015, Kimiyasu Nakamura, general manager of Nissan's main joint venture with Dongfeng Motor Group Co said Nissan hopes to generate a sales volume of about 300,000 vehicles a year, the scale of sales that would rival that of manufacturers Chery cars like BYD Co and Zhejiang Geely Holding Group Co.
New Chinese car brand Qoros China Real Time Report, porcelain brand, Qoros.