MG car line reborn with a made-in-China label
SHANGHAI -- Nanjing Automobile Group Corp. unveiled its made-in-China MG sports cars and sedans recently, the first step in a plan to use the iconic British brand as a platform for global expansion.
China's oldest automaker introduced the 1.8-liter MG TF roadster and its MG 7295 and MG 7275 sedans at its $450 million plant near the eastern city of Nanjing . The brand, renamed "Ming Jue" or "Modern Gentleman," will go on sale in China in the second half of the year.
Nanjing Auto, SAIC Motor Corp., and other automakers have added their own brands and begun targeting overseas sales, as increasing competition squeezes profit margins in the world's second-largest auto market. MG's new owner plans to invest $2 billion in the brand, including opening plants in the United Kingdom and United States.
"MG, as an established brand worldwide, will help Nanjing Auto attract customers' attention," said Huang Zherui, an analyst at CSM Asia, which advises carmakers in China.
The 7-Series sedans, with 1.8-liter and 2.5-liters engines, are "reachable classics" aimed at the mid-market, Nanjing Auto's president Yu Jianwei said . He declined to disclose the carmaker's production plans and retail prices. By comparison, the 2.4-liter Shanghai General Motors Co. Buick La Crosse sells from about $27,500.
China's oldest automaker introduced the 1.8-liter MG TF roadster and its MG 7295 and MG 7275 sedans at its $450 million plant near the eastern city of Nanjing . The brand, renamed "Ming Jue" or "Modern Gentleman," will go on sale in China in the second half of the year.
Nanjing Auto, SAIC Motor Corp., and other automakers have added their own brands and begun targeting overseas sales, as increasing competition squeezes profit margins in the world's second-largest auto market. MG's new owner plans to invest $2 billion in the brand, including opening plants in the United Kingdom and United States.
"MG, as an established brand worldwide, will help Nanjing Auto attract customers' attention," said Huang Zherui, an analyst at CSM Asia, which advises carmakers in China.
The 7-Series sedans, with 1.8-liter and 2.5-liters engines, are "reachable classics" aimed at the mid-market, Nanjing Auto's president Yu Jianwei said . He declined to disclose the carmaker's production plans and retail prices. By comparison, the 2.4-liter Shanghai General Motors Co. Buick La Crosse sells from about $27,500.
posted by Smartcar Owner at 11:36 AM
0 Comments:
Post a Comment
Links to this post:
Create a Link
<< Home