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Auto: New Volkswagen model
(Shenzhen Daily)
Updated: 2006-04-11 15:04
German automaker Volkswagen AG's China unit launched its comeback model, the
Sagitar, on April 9, saying it is confident it can arrest a decline in the
company's market share by focusing on specific types of car buyers. The Sagitar
is aimed at highly educated, fashion-conscious buyers in their mid-thirties
seeking speed and excitement, said Weiming Soh, VW Group China's executive
president for sales and marketing.
Jiangling Motors Corp. said over the weekend its net profit rose 28 percent
last year from 2004 thanks to strong vehicle sales. Light truck and van maker
Jiangling, in which Ford Motor Co. has a 30 percent stake, said its net profit
rose to 495.4 million yuan (US$61.93 million) from 386.9 million yuan last year,
based on Chinese accounting standards. Jiangling's core revenue rose 8.8
percent year on year to 6.28 billion yuan from 5.77 billion yuan in
2004.
(For more biz stories, please visit Industry Updates) |
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