Fri, Sep 27, 2013 - Page 13 News List

China Motors eyeing new model boost

By Camaron Kao  /  Staff reporter

China Motors Corp (中華汽車), the nation’s second-largest carmaker, said yesterday its sales would increase by 10 percent to 15 percent next year after it launches more new models.

The company, which distributes Mitsubishi sedans and its own-brand CMC commercial vehicles, aims to sell 55,000 cars next year, up from between 47,000 and 48,000 this year, president Liu Hsin-tai (劉興臺) told reporters during the launch of a new model of the subcompact Colt Plus.

“We only made minor changes to our models this year, but starting next year we will have more new models,” Liu said.

The company will introduce a new commercial vehicle next month and two new sedans next year, Liu said.

China Motors aims to sell 700 to 800 Colt Plus cars a month, accounting for about 17.5 percent to 20 percent of its monthly sales. The new Colt Plus is only available in Taiwan, but the firm is considering exporting the car to the Middle East in the near future, Liu said.

About 50,000 Colt Plus have been sold since the first model was introduced in Taiwan in 2007.

Chien Ching-wu (錢經武), general manager of the business division, said China Motors would distribute 3,200 cars this month, up 53 percent from 2,091 last month.

The new Colt Plus launch came one day after Yulon Nissan Motor Co (裕隆日產) opened preorders for its new Sentra sedan.

"The launch of new Colt Plus model should help China Motors build a solid basis for sales recovery next year," Yuanta Securities Co (元大證券) analyst Leslie Kuo (郭建華) said in a note.

Yuanta, retaining its "buy" rating on China Motors' shares, forecast the company to report earnings per share of NT$2.1 this year and NT$2.5 next year, according to the note.

China Motor earned NT$1.56 per share last year.

This story has been viewed 1638 times.

Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.

TOP top