Chinese automakers 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 Tuesday, giving it access to the European market of some 500 million 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 euros to 14,700 euros ($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.
In Britain, Geely Motors plans to start selling a mid-range sedan by the end of the year at a very competitive 10,000 pounds ($15,460, 12,000 euros).
Comments
Comments are closed for this article.