Bong Motors, FAW marca lider in cars.
Grupo Elektra FAW Car Introduced from China to Mexico.
-Vehicles with top quality standards will expand the automotive market in Mexico.
-Substantial demand in the target market of the Company.
MEXICO CITY, Nov. 22 - Grupo Elektra SA de CV large specialty retailer in Latin America, finance and consumer banking services company, announced that it will present the FAW automobiles in the Mexican market - with state of the advanced technology and top safety and emission control standards - oriented to new customers in the market during the first quarter of 2008.
The company has a strategic alliance with First Automobile Group Works FAW Group - the largest automotive group in China and Volkswagen Audi partner, Toyota and Mazda - which allows Grupo Elektra to sell cars in Mexico that are produced in China in the part of the alliance, over the next three years, Grupo Elektra and FAW Group will build an assembly plant in the state of Michoacan, with important geographical and logistic advantages, to produce cars in Mexico in 2010, which it will provide Mexico and Central America demand.
The investment to build the plant equipment and the purchase will be about 150 million over the three year period, and the plant will have the capacity to assemble 100,000 vehicles a year After three years, the company will analyze the possibility of increasing the production capacity.
Vehicle prices are 5 to 10 below the current average in Mexico, allowing a large part of the population that currently can not afford to be customers of the industry to participate in this market.
The company believes that demand for new cars to be important Other transport Grupo Elektra - like motorcycles - have outstanding performance, with sales of over 400,000 units in a period less than three years as well as with motorcycles, the company develop an effective infrastructure of after-sales service for cars, with world class quality.
Grupo Elektra make cars even more accessible thanks to financing from Banco Azteca, as part of the company's commitment to improve the quality of life of a growing number of families in the communities where it operates.
Grupo Elektra is the leading specialty retailer, consumer finance and banking services company in Latin America The Group operates over 1,700 points of sale in Mexico, Guatemala, Honduras, Peru, Panama, El Salvador and Argentina Grupo Elektra also sells and markets its consumer finance, banking and financial products and services through Banco Azteca branches located in Mexico, Panama, Guatemala and Honduras Grupo Elektra is a Grupo Salinas company member of a group dynamic companies, fast growing, and technologically advanced focused on creating shareholder value, building the middle class of the countries where it operates, and improving society through excellence.
Grupo Elektra Introduced China FAW Car in Mexico, Grupo Elektra introduced.