Chery plant in Brazil remains a likely mystery
- Source: Global Times
- [16:53 December 08 2010]
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By Shi Jierui and Wang Haixia
Speculations over Chery's willingness to establish a production plant in Brazil have been materializing ever since Its general manager assistant, Jin Yibo, said that the company is studying the possibility.
According to unconfirmed sources Thursday, the automaker will set a production plant in South America's richest nation in 2011 in attempts to enlarge market shares in the country.
Brazil's auto market annual average capacity is of over 3 million units, which is very promising for Chery and other Chinese auto makers. According to Jin last week, the sales of Chery Tiggo are expected to reach 10,000 units this year.
Many Chinese auto brands, including Changan, Chery, Changhe, Hafei and Jinbei have entered the Brazilian market in succession since 2006. Jianghuai and Lifan will appear on the October Sao Paulo Car Exhibition.
According to China Automotive Manufacturers Association (CAMA), China-made family cars and commercial vehicles sold 5,820 units from January to July this year and market shares increased from 0.04 percent in 2008 to 0.33 percent in 2010.
