Shanghai GM enlists Saab in drive into luxury car sector
By Li Jian (China Daily)
Updated: 2006-07-12 10:10
Shanghai GM is to introduce a premium Saab sedan in China, expanding its
presence in the lucrative luxury car market.
While still planning to
manufacture a premium Cadillac in China in November, Shanghai GM signed an
agreement with Saab Automobile AB, a subsidiary of General Motors, on July 6,
obtaining the rights to import and sell a mid-range model from specialist
Swedish carmaker Saab.
A model stands at new Saab Aero-X prototype with a 400 hp ethanol
engine which is on display as a first world presentation at the 76th
Geneva motor show, Shanghai GM is to introduce a premium Saab sedan in
China, expanding its presence in the lucrative luxury car market.
[Reuters] |
The model to be introduced to the
mainland market, the Saab 95, is billed as a rival to the ever-popular BMW 3
series cars and Mercedes' smaller sport sedans.
Industry analysts
anticipate Shanghai GM, a leader in the family car and middle-class sedan
markets, will advance further in the luxury car market, which is currently
mainly dominated by German firms.
Ding Lei, Shanghai GM general manager,
told China Daily yesterday that the launch of the Saab 95 was a milestone for
Saab's future development in China.
Adverts for the car have already
begun to appear on TV and in printed media.
"Saab plays a key role in
GM's premium brands and will help Shanghai GM extend its presence in the
lucrative luxury car market.
(For more biz stories, please visit Industry Updates)
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