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Old 10-17-2008, 11:42 AM   #9
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Default Re: Zhongxing news

Zhongxing to make pickups for Changan

October 17, 2008 - China’s pickup and SUV maker Hebei Zhongxing Automobile Co on Wednesday signed a cooperation contract with Chongqing Changan Automobile Co for Zhongxing to build pickups for the latter, the Nanfang Daily reported.

Under the contract, Zhongxing will use its existing facilities and oversea operations to build pickups for Changan, who will in turn help Zhongxing promote its brand awareness abroad, a Zhongxing executive said. Prices of the pickups will be positioned at 60,000 yuan to 70,000 yuan.

No further details of the contract were released. Last week an executive of Changan's global sales division, told Automotive News that the pickups will be mainly sold overseas. But the United States and Europe are not included in the target markets initially.

The report said Zhongxing expects its oversea sales will grow 80-100% this year to 20,000 units, at last year's level. Year to date sales in the domestic market have reached 31,000 units, it said.
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