The
top automobile industry in China made headlines last Monday after announcing its plans to market its own trademark of cars in the world market. As such the SAIC Motor Corp. would invest $1.25B in order to realize this venture of international expansion. SAIC targets to follow the path of internationally best selling brands such as Toyota and Hyundai.
The $1.25B investment would be spent by the Chinese automaker to build additional manufacturing lines and to design 30 more models until 2010. With this
huge investment plan, SAIC hopes to market around 200,000 car models of its own not only in China but in the international level. The expansion plan is expected to boost the total sales and profits of the giant car industry. SAIC plans to sell cars with prices ranging from 65,000 Yuan up to 300,000 Yuan (equivalent to $8,115-$37,460).
Recently, foreign car companies have flocked and begun establishing in China. Finance and economic analysts though stated that these businesses would be probably outranked by the local car industries. China currently is seeking to further boost its
car industries in an effort to gain a position in the global car market.
