Chinese-Made Cars to Be Sold in U.S.
DETROIT (AP) -- The man who brought the Yugo and Subaru to this country has a new project -- becoming the first mass importer of low-cost Chinese-made cars.
Chery Automobile Co., owned by the Chinese government, has signed a deal with auto entrepreneur Malcolm Bricklin and his privately held Visionary Vehicles LLC of New York to sell Chery's cars in United States, Visionary announced Sunday.
The companies aim to sell 250,000 vehicles in five models in their first year, 2007, with the goal of selling 1 million units of eight to 10 models by 2012, Visionary Vehicles chief of staff Paul Lambert said Sunday.
Lambert said the company will aim at selling vehicles well below the price of models now available while matching the quality of Japanese carmakers.
"America doesn't need another car company unless we can do it at 30 percent below market with quality and styling," Lambert said. "We've got to have a Toyota-Lexus-like quality."
The vehicles will carry 10-year, 100,000-mile warranties, Visionary said. No brand name has been selected. Visionary will invest $200 million in new Chery products for the U.S. market.
http://biz.yahoo.com/ap/050102/importing_chinese_cars_9.html
