China Launches First Car Model in Vietnam
Submitted by Bill Belew on Friday, 9 March 2007No Comment
The Lifan 520 of the Chinese Lifan group became the first Chinese sedan, four-seat, car model to be assembled and sold in Vietnam – $16,000.
The car's appeal is to taxi companies and mid-income earners.
The goal is to sell 2000 units a year. 100 of them have already been purchased by the Bao Tan taxi firm.
Vietnam hs 13 automobile joint ventures with a total registered capital of about $700 million. The JVs can roll out 173,000 units a year.
Vietnams 83 million residents have only 700,000 privately-owned cars and 17 million motorbikes.
However, as Vietnam joins the WTO, the country expects there to be more mid-income earners in the country = more cars being bought up.
Have you ever been to Vietnam?
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