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Changfeng Motors is reportedly discussing plans to build an assembly unit in Russia, according to a Reuters report.

The report quoted an unnamed Changfeng executive as saying that the Chinese company is in advanced talks with potential Russian joint venture companies
 

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Changfeng plans to sell 60,000 vehicles, launch 3 models this year.

January 28, 2008 – Chinese auto maker Changfeng plans to sell 65,000 vehicles this year and launch three new models in Chinese market, Chinese language newspaper Beijing News reported today.

The Hunan-based SUV maker Changfeng plans to sell 50,000 SUV vehicles this year, of which 26,000 units will be Liebao CS6 SUV vehicles, Changfeng’s general manager Chen Zhengfeng announced at the annual dealership conference last week.

To achieve this target, Changfang will launch three new models including a SUV called Liebao CS7, a sedan model called Qilin and a codenamed CS5 SUV vehicle.

On another occasion, Changfeng’s board chairman Li Jianxin said the company plans to launch 12 models covering all segments of passenger vehicles market in four years.

"With the 12 new models, Changfeng would be able to produce and sell 300,000 vehicles a year,” Li said.

Last year, Changfeng sold 25,000 SUV vehicles, ranking fourth in China’s SUV market. The automaker’s sales revenue reached 5.5 billion yuan, up 13 percent year-on-year.
source: Gasgoo.com
 

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China's Changfeng Motors sees 50 pct rise in 08 net

SHANGHAI, March 7 (Reuters) - China's Hunan Changfeng Motors Co (600991.SS: Quote, Profile, Research) expects to report a 50 percent jump in earnings this year, little affected by severe snow storms which disrupted auto parts supplies in parts of the country earlier in the year, a senior company executive said on Friday.

Fierce winter weather affected parts and vehicle shipments, but the losses can easily be made up via additional shifts, Li Jianxin, chairman of Changfeng's parent company, told Reuters in an interview.

Changfeng, 16.07 percent owned by Japan's Mitsubishi Motors Corp (7211.T: Quote, Profile, Research), has yet to release its 2007 figures. It earned 30.36 million yuan ($4.27 million) in 2006.

Li also said that the parent group was expected to more than double its vehicle exports to 6,500 units this year from 3,000 in 2007, as it ramps up annual production to 70,000 vehicles from roughly 30,000 last year.
source : reuters news
 

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Changfeng Motors reports a 613% surge in 2007 earnings.

March 28, 2008, 2008 - Hunan Changfeng Motors Co. released its 2007 annual report today. The Chinese home-grown automaker earned RMB 167.98 million ($23.8 million) last year, up 613.6% over the previous year. Also it's set to announce a joint venture plan with Japan's Mitsubishi Motors Corp within three months, a Changfeng executive said on Wednesday.

In 2007, Changfeng Motors generated sales revenue of RMB 4.56 billion, a 8.67% increase over 2006. Its gross profit stood at RMB 166.34 million, an increase of 474.5 percent. The auto-making division made a RMB 4.38-billion revenue, up 8.59% year on year.

Last year, Changfeng sold 25,000 SUV vehicles, ranking fourth in China’s SUV market. For this year, it aims to sell 65,000 vehicles and launch three new models in the Chinese market.

JV program with Mitsubishi nearly finalized

During the first half of this year, Changfeng will finalize its 50-50 joint venture program with Mitsubishi, said Michiyuki Suzuki, general manager of Changfeng Mitsubishi Sales Co., who made the remarks yesterday after announcing the launch of 2008 Pajero SUV.

Changfeng, 16.07% owned by Mitsubishi Motors Corp., produces a SUV vehicle Liebao on its own and Pajero SUV for Mitsubishi. Earlier this week, Changfeng released a compact sedan -- the Kylin, also Changfeng’s first sedan model.

"Changfeng’s sales banks heavily on the Pajero SUV only and it indeed has established a firm market position in this particular segment, especially in the western and southern parts of China,” said Richard Sun, automotive analyst at Essence Securities in Shanghai. But Sun kept cautious about Changfeng’s foray into the passenger vehicle market.

Overseas expansion: Hummer could be partner

Apart from forming a JV with Mutsubishi and moving into sedan manufacturing, Changfeng is considering further overseas expansion. Chen Zhengchu, general manager of Changfeng Motors, confirmed an earlier report that the company was in discussion with a foreign SUV manufacturer on potential cooperation.

Chen said that Changfeng could export knock-down kits to America and the local partner could assemble and sell them; or Changfeng could produce the SUVs with the chassis provided by the US partner and then export the completely built-up vehicle. He refused to reveal the American automaker’s name, but the foreign media’s rumor is that the partner could be Hummer.
source: Gasgoo.com
 

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Changfeng Motors to expand SUV, pickup capacity.

May 30, 2008 - Hunan Changfeng Motors Co. has plans to increase its urban SUV and pickup capacities by 50,000 units by issuing 100 million new shares to raise funds for lineup and facility expansion.

The carmaker debuted its all-new Liebro CS7 SUV at the recent 2008 Beijing auto show and will start its production later this year, with an expected annual capacity of 30,000 units, after this product’s development and technical innovation are completed by early June.

Changfeng Liebra CF2 (CS6) is a middle- to high-end urban SUV and its annual capacity will top 30,000 units after Changfeng's manufacturing facilities are expanded this year. The Chinese maker of SUVs and pick-up trucks, owned 16% by Mitsubishi Motors, said on Wednesday it planned to raise about 900 million yuan ($129 million) via a share placement for its expansion.

Changfeng Motors would issue up to 100 million new shares, or nearly 20% of its expanded share capital, to as many as 10 institutional investors such as asset management firms and securities houses. The company said funds raised would help it to expand its vehicle line-up and boost its annual production capacity by 30,000 SUVs and 20,000 pick-up trucks.

With the funding, its subsidiary Changfeng Yangtze will boost its capacity to make 20,000 CT5 pick-ups annually by 2010. The self-developed CT5 product will be a leading model for Changfeng Motor to enter the pickup market.
source: Gasgoo.com
 
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