AFP (Beijing) - Chinese auto makers have returned in force to Europe, buying up brands and plants after early efforts to get a foothold in one of the world’s largest car markets failed.
Great Wall Motor is the latest China entrant, with production at its plant in Bulgaria due to start tomorrow, giving it access to the European market of some 500mn people with a very competitive line up which may give Europe’s established firms pause for thought.
Prices for its base Voleex C10 model, the Steed 5 pick-up and Hoover H5 four-by-four run from just €8,000 to 14,700 ($10,600 to 19,400) and the company, which has 10 sites in China, says is aiming for production of 500,000 vehicles overseas by 2015.
Analysts said it may be surprising that Chinese firms seem so determined to get into Europe, a saturated market where car sales are declining, but there are benefits for them, especially in terms of branding and prestige.
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