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JAC Drive into Auto Loan Sector

ANHUI Jianghuai Automobile Co Ltd plans to cooperate with one of the nation's four asset management companies to set up an auto financing venture, making it the first Chinese auto maker to tap the auto vehicle loan industry for its self-branded models, the firm said recently.

JAC, one of China's leading commercial vehicle producers, would team with China Oriental Asset Management Corp to jointly establish a auto loan company in Hefei, capital of Anhui Province, with a total investment of 500 million yuan (USD62.5 million), according to its document filed with the Shanghai Stock Exchange.

Anhui-based JAC plans to invest 100 million yuan to take 20 % in the venture while its parent, Jianghuai Group, would take 30 % for 150 million yuan, leaving Oriental with the remaining 50 % for 250 million yuan, the statement said.

"With the establishment of the finance unit, JAC would be benefiting from a more complete business strategy for sustained development in the future," the company said.

Once approval is given by the China Banking Regulatory Commission, the auto loan company will offer loans to individual auto buyers as well as to dealers to buy new models and operations equipment.

JAC would become the first domestic auto maker to break into the fledging auto finance industry with its own brand following overseas counterparts including Volkswagen AG's and General Motors Corp's joint ventures in China.

An auto analyst, who did not wish to be named, said the launch of the auto loan business is part of JAC's preparation to support the development of its passenger cars as it meets stiff competition from domestic and foreign auto makers.

JAC, the nation's ninth-biggest auto maker, plans to develop more than 10 passenger car models ranging from mid-range to high-end sedans, compact models as well as sport utility vehicles from next year.
 

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Jianghuai the renowned maker of chassis, trucks, Refine MPV, etc., has received government approval to build passenger cars, says Shanghai Daily. But no mention was made of the application for a merger with Chery last summer.

Will it try to go it alone in the people mover business???

Also looks like it has parted ways with former partner, Hyundai.
 

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Jianghuai to be top automaker

"Jianghuai Automobile Co, one of the three domestic manufacturers that produce both passenger vehicles and commercial vehicles, will introduce 10 new sedan models by 2009, and make itself a large auto group with a complete product series in 2010.

In the next five years, Jianghuai will focus on domestic brand vehicle development, commercial vehicle market expansion, and environmentally friendly and energy-saving product designs.

The automaker sold 71,200 vehicles during the first four months of the year, up 13.59 percent from the same period last year. Its sales revenue totaled 5.78 billion yuan (US$756 million), an increase of 33.8 year-on-year. The Jianghuai Refine ranked first in accumulated sales from January to April this year in the domestic multi-purpose vehicle market."


- China Daily -

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Maybe it's about time to create a sub-forum for JAC :nod:
 

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JAC to display 1.3 liter A class car models at Beijing Auto Show.

March 20, 2008 - Chinese commercial vehicle manufacturer Jianghuai Automobile Company (JAC) will show up two A-class models at the upcoming Beijing Auto Show in April.

"The two self-developed A-class models are each equipped with a 1.3 liter naturally aspirated engine and a 1.3 liter turbo charged engine. These two models will go on sale in September or October," said Yan Gang, general manager of JAC's sales unit.

Yan said the company will also exhibit a B-class model which will go on sale next year.

JAC, a leading manufacturer of multi-purpose vehicles and commercial vehicles, rolled out its first C-class Binyue sedan last year when it decided that passenger vehicles are more profitable.

JAC aims to sell 200,000 units cars by 2010, hoping to realize total sales revenue of RMB 15 billion to 20 billion ($1.99 billion to $2.66 billion). And by then, JAC will have 6 passenger vehicle platforms, on which 10 models ranging from 1.1L to 2.4L will be produced.

Separately, JAC says it has offered RMB 200 million to subsidize its passenger car dealers since last May. Currently JAC has a total of 50 sedan dealers, which will be expanded to 57 by the end of this month.
source: Gasgoo.com
 

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JAC to make automatic transmissions.

May 21, 2008 - Anhui Jianghuai Automobile Co. (JAC) plans to start making four-speed automatic transmissions sometime around September this year. The company is building production lines in Hefei, the capital of Anhui province. Once operational, they will have a total capacity of 100,000 units per year.

Documents released by the local government indicate JAC bought the technology last year from German powertrain engineering company Hofer Powertrain GmbH for about 2 million euros (21.7 million yuan).

In China, automatic transmissions are still considered high-tech products and the suppliers are predominantly foreign companies or their joint ventures.

Although it is well-known for its commercial trucks and buses in China, stated-owned JAC is still a tiny player in the domestic passenger vehicle sector. It has a small van, an SUV and a sedan on the market now. Total sales of the three passenger vehicle models were 48,114 units last year.

The company released two documents on its Web site recently to elicit public comment on the environmental impact of the automatic transmission project. It is a procedure it has to go through to win government approval of the project.

The documents say JAC will build the production lines inside the company's No.1 engine plant in the Hefei Economic & Technological Development Zone. The automatic transmission has a product code of ATF460.

Total investment in the automatic transmission production project is projected to be 410 million yuan ($59 million). Once operational, it will have 285 workers working two shifts a day.

The documents do not say when the company will start making the transmissions. JAC declined to comment on the project.

But a manager from JAC says the company has already started building the production lines, and it plans to start trial production of the transmissions sometime around September this year.

"The four-speed transmissions will be initially mounted on the Benjoy sedan and Rein SUV," the manager says.

A document released by the taxation bureau under the Anhui provincial government indicates JAC bought the transmission technology from Hofer Powertrain last year.

"Hofer transferred the technology for the design and manufacture of the ATF460 automatic transmissions to JAC in May 2007, and the value of the contact is 2,058,000 euros (22,359,000 yuan)," says the document.

Since the technology was deemed high technology, its transfer was exempt from import duties.

But Tom Tan, president of BorgWarner China, says a four-speed automatic transmission is already obsolete since developed markets have moved to five-speed automatic transmissions.

"It is for low-end vehicles of 100,000 yuan($14,310) and below," he says.
From:Automotive News China
 

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Jianghuai Auto to invest 1.6 bln in economy cars

August 19, 2008


Shanghai, August 19 (Gasgoo.com) Anhui Jianghuai Automobile Co., Ltd. has recently released its first-half profits and meanwhile announced its plans to invest further in its capacity expansion and passenger vehicle project, said xinhuanet.com today.

As many other Chinese automakers, Jianghuai Auto did not seen profit growth in the first half of this year: Its net profits were 16,7 million yuan, down 26.48% year on year, while its costs rose 36.57%, with the gross profit of a single vehicle unit down 3.46%.

In a bit to push forward its new product series, Jianghuai Auto will launch another round of fund-raising for 1.6 billion yuan. The major part of the investment will go to the development of economy sedans, including an economy sedan (A-Class) project with an annual capacity of 100,000 units.

The other projects include a passenger vehicle project of 60,000-unit capacity, a low-emission engine project of 200,000-unit output, an automatic transmission project of 100,000-unit output, and a passenger car transmission project of 260,000-unit capacity.

Reportedly, the first mid-class sedan Binyue developed Jianghuai Auto at great expense did not sell so well as expected. Launched to market at the beginning of this year, the Jianghuai Binyue sold 6,760 units by the end of June, with 1,701 units sold in January, but 517 units in May.

http://www.gasgoo.com/auto-news/7463/Jianghuai-Auto-to-invest-1-6-bln-in-economy-cars.html
 

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JAC will introduce 14 vehicles in next two years!
http://www.autohome.com.cn/news/200810/48639.html

With the end of 2008 just around the corner, another round of new competition is about to begin. Subject to a variety of factors, some of the second half of the automobile market in the doldrums, but still can not stop various companies to launch new enthusiasm. Jianghuai Automobile to automatic Yue Bin and Yue with the family car, said the re-launch of their full attention to the determination of the automobile market at different levels. Jianghuai Group during the visit, the Jianghuai Automobile Mr. Zhang Xianhua made it clear that the next two years, Jiang will have 14 different levels of new car debut one after another.

Zhang, speaking in general clearly has launched four models of the time, were about to launch in December of this year, a B MPV a new car, introduced in June next year, as well as a symbol of the B926 medium-sized sedan 1.8L displacement, The other level model, also in December 2009 will be introduced for the displacement of the 1.0L small train "fun", the last in June 2010, will also introduce a more luxurious C MPV a new car.

But Zhang said the total, the 4 new cars will not appear in this year's auto show in Guangzhou on. The exhibition will Jianghuai 900 square meters of exhibition stands on display for the majority of consumers at this stage, as well as other models of the main new car, which has just been launched by the Jianghuai Yue-bin, as well as automatic models with Yue / Yue with the RS model, as well as A number of MPV Jianghuai will be the focus of this exhibition model. Zhang, speaking in general, this show also covers a number of levels of 14 new vehicles like the feeling and the biggest Jianghuai different levels of confidence in the market.

Yue-bin 2.0 automatic integration with Japan's Mitsubishi for F4A4B engine and automatic transmission, using the latest Mitsubishi's MIVEC technology (continuously variable valve timing), in-line 4-cylinder, 16-valve, electronically controlled multi-point fuel injection, a hundred Km fuel consumption is only 7.5L, Ⅳ country to reach the level of emissions, set high-power, high torque and low vibration, low noise and low fuel consumption and low emissions, and so integrated into the performance.

The battle compact car market with Yuet RS / Yue with the use of mature technologies and reliable 4G13S Mitsubishi engine displacement to 1.3L, for the European IV emission standard, 100 km fuel consumption to a minimum of 5.5 liters, with 5 block manual transmission. In addition to the equipment installed equipment before the dual airbag, there are ABS + EBD active configuration to ensure security, anti-collision steel door at the same time, the ulcer can be reduced to string for the crew to provide more protection. And reversing radar, remote central door locks high equipped with only the only luxury equipment.
 

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JAC Rein: Hyundai Santa FE Chinese Clone on Sale in Europe

While here in the States Chinese automakers have yet to make their presence known, in Europe we're seeing more and more companies entering the market. One of the latest Chinese firms to land on European shores is JAC that has begun selling its cars in Greece. The vehicle you see in the above picture is the Rein, a clone of the first-generation Santa FE SUV with a set of Lexus RX-style tail lamps that is built by JAC in China under a license agreement with the Korean automaker.

The Chinese clone of the Santa FE is powered by a 2.0-liter gasoline engine producing an output of 142-hp and it is offered in two trims, Basic and Full that are priced at €17,900 ($22,800 U.S.) and €19,900 ($25,400 U.S.) respectively. Even though the Rein is a perfectly legit clone, we can't help but wonder what Hyundai and especially its official Greek dealer has to say about it. If anything else, from a buyers point of view, imports such as the Rein tarnish the Korean automaker's image in the market.
Source: http://carscoop.blogspot.com/2009/02/jac-rein-hyundai-santa-fe-chinese-clone.html
 

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Look at the horrible tone that article is putting on. What clone ? What image tarnishing ? It is not like Hyundai never tarnished the image of Mitsubishi anyway.
 

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Jianghuai Auto expanding further into PV market.

February 4,2009 (Gasgoo.com) Anhui Jianghuai Automobile Co Ltd (JAC) said it has planned to launch at least one new car model each year to help its expansion into the passenger vehicle market, the Beijing Youth Daily reported Wednesday.

JAC, who is known for building trucks, vans and SUVs, made foray into the passenger car market in late 2007. But it has big expansion dreams. The automaker said it aims to sell 70,000 cars this year, and targets 120,000 units in 2010 and more than 200,000 units in 2011.

"To underpin our expansion, we plan to add 100 dealers across the country this year to the existing 141 dealers,” said Tao Zhi, deputy manager of the JAC passenger vehicle sales division.

Tao told the newspaper that JAC would make further investment in developing own-brand sedan engines and transmissions in order to realize cost savings and real-time quality control. The company is already capable of making 2.0L and 2.3L sedans independently.

In late December 2008, the company has received the 50 million yuan ($7.32 million) free grant from Hefei city, the provincial capital of Anhui, for the development of its automatic dual-clutch transmission (DCT) project.
 

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JAC to launch three all-new car models in 2009.

March 11, 2009
Anhui Jianghuai Auto Co., Ltd. (JAC) will launch three all-new car models to market in 2009 and its mature Refine brand will have a revamped model available by the end of this year, Beijing Youth Daily reported today.

The three all-new models will come from two platforms, and Jianghuai Auto will launch two models from one of the platforms in the third quarter this year. One model is a medium-size sedan that will be produced in June and then go to the market; the second model, code-named B926, will be put on sale in September.

By the end of this year, Jianghuai Auto will unveil its fourth sedan platform and launch a small car model. In addition, the Jianghuai Refine brand, which has become mature in the market, will bring out a second-generation product -- Refine-2 model.

Jianghuai Auto has completed its development planning of vehicle models and major component products. It will have six passenger vehicle platforms and four engine production platforms (for 2.0L and 1.3L gasoline engines, and 1.9L and 2.8L diesel engines).

Currently, Jianghuai Auto has four major passenger car brands: MPV Refine, SUV Ruiying, official sedan Binyue and small car Tongyue. The company aims to sell 70,000 passenger cars this year, and targets 120,000 units in 2010 and more than 200,000 units in 2011.

Jianghuai Auto has been China's leading commercial vehicle producer. It diversified to the passenger car market in 2006 to boost profitability.
source: Gasgoo.com
 

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JAC to invest $86M in 30,000-unit MPV plant.

July 14, 2009
Chinese automaker Anhui Jianghuai Automobile Co., Ltd. (JAC) announced today that it will invest 590 million yuan ($86.4 mln) in building a new multi-purpose vehicle (MPV) facility, China Securities Journal reported.

The MPV project, located in the Baohe Industrial park of Hefei city, capital of Anhui province, will have an annual capacity of 30,000 units. The products to be manufactured at the new facility are of the MPV models developed by JAC with the help of international designers.

According to initial estimates, the new MPV facility at full capacity will generate annual sales revenue of 3.58 billion yuan, with annual net profit of 450 million yuan. The investment is expected to have a 5.5-year payback period.

Jianghuai Auto produced 146,027 vehicles and chassis and sold 145,665 units in the first half of 2009, separately rising 14.82% and 13.92% from a year earlier. In June alone, the automaker sold 25,066 vehicles and chassis, including 5,819 cars.

Notably, in spite of the sluggish MPV sector, it sold 3,455 MPVs in June and a total of 21,581 units in the first half, climbing up 6.73% year on year.

Jianghuai Auto has gained its profit mainly from the MPV and light truck businesses. Its MPV model Refine, ranking first in the MPV sector, has secured a 21.66% market share and contributed roughly 35% of its complete vehicle sales revenue.

from Gasgoo.com
 

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China’s JAC Motors closes deal to export cars to Brazil

December 21, 2009
Sao Paulo, Brazil, 16 Dec – Anhui-based Chinese vehicle manufacturer Jianghuai Automobile Co. (JAC Motors) and Brazilian group SHC Tuesday signed a 10-year contract to export Chinese cars to the Brazilian market, according to TV station Globo.

According to the president of SHC, Sérgio Habib, investment will total US$100 million, not counting the amount applied to set up the dealership network, which will initially total 50 dealerships (25 belonging to SHC group itself).

This will be JAC’s first taste of the Brazilian market where it will compete with other Chinese companies such as Hafei Motor, Jinbei Automobile, Chana Motors, Effa Motors (Changhe) and Chery.

According to Habib, the first units are due to arrive in Brazil in march 2010 and will start to be sold in Brazil at the end of the year.

SHC projects to sell 3,000 units per month.

“In 2011 I believe we will sell 35,000 cars and gain a 1 percent market share,” Habib estimated.

“In 2012 we plan to sell 50,000 units. There is a lot of room for growth in the Brazilian market.

Also according to Habib, the four models imported into Brazil will be launched simultaneously with China. (macauhub)

http://www.macauhub.com.mo/en/news.php?ID=8621
 

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Jianghuai Auto '09 net profit up 482.42% to $49 mln

Shanghai, April 7 (Gasgoo.com) Anhui Jianghuai Automobile Co., Ltd. (JAC) recently announced that the company last year achieved 20.091 billion yuan in operating revenue, up 36.44%, and 335 million yuan ($49 million) in net profit, up 482.42%, the National Business Daily reported.

Vehicle production, as Jianghuai Auto's biggest business, contributed 17.664 billion yuan, or over 90%, to the total core business revenues of the company last year. Operating revenue from its vehicle production increased 44.84%, while those of other operations decreased to different degrees.

The company's MPV and sedan operations both grew rapidly in 2009. The automaker has started mass production of low-emission engines. Its joint venture project for medium- and heavy-duty trucks and its engine project have also been kicked off.

Last year, Jianghuai Auto sold 310,600 vehicles, up 55.9%. The sales included about 46,000 units of the Refine MPV, 154,000 light trucks, 13,000 heavy trucks, 11,800 units of the Rein SRV, and 65,600 sedans, up 26.8%, 42.48%, 20.18%, 14.32%, and 461.56%, respectively.

The provincial government of Anhui previously urged the merger between JAC and Chery, both based in the central Chinese province. However, Jianghuai as a leading truck-maker has been more interested in its own expansion into the passenger car sector.
Maybe they should get their own subforum...
 
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