Thursday, June 30, 2011
By Pranjal Gera
Jianghuai Automobile Company (JAC) plans to roll out stakes in the Indian market
The Chinese Auto Giant Jianghuai Automobile Company is planning to initiate sales of passenger and commercial vehicles in the Indian auto market.
A spokesperson for the company said that initially they will jump in the market of commercial vehicles but with time they will increase their product range and will also enter the passenger car market.
He also said that JAC is open for collaborations with the present auto leaders to make a firm base for themselves and understand the market trend better.
JAC, the 8th largest car maker in China, was founded in 1964. It sold 4,60,000 units and received a revenue of $ 2 billion last year, and this year, the company aims at selling 6,00,000 units.
The company is a leading producer of buses, MUVs, Sedans and light, medium and heavy duty trucks in China.
The Indian auto market has recorded high sales and is expected to become the 4th largest auto market globally in the next five years. Thus many other Auto Giant are eying the Indian market.
Shanghai Automotive Industry Corporation (SAIC), another Chinese Auto maker has sealed the deal with General Motors and is planning to launch 2 light commercial vehicles and 3 passenger cars by the end of 2013.
While in the Indian commercial vehicle market, which saw sales the of 6,76,408 units and recorded a growth rate of 27%, many global companies Navistar and Marcopolo are planning to increase their sales furthermore.