Daily Archives: August 20, 2011

Chinese cars, Brazilian market

China’s biggest auto exporter, Brazil Chery Automobile Co, is attempting to triple its market share in Brazil by 2015, said Luis Curi, CEO of the Brazilian unit in an interview to Bloomberg. The company’s rate of purchase from its Chinese parent hovers around 4,000 vehicles a month, with practically no stock in the country, Curi said. The Brazilian market share of Chinese automakers has expanded to 3.29 percent this month, from virtually zero in April 2010, according to data from Fenabrave, the national car dealers association. Brazil is already the biggest market for Chery outside China. Profit margins for the next decade should be “insignificant”, with the company working at break-even level.  Chery expects to sell about 30,000 vehicles in Brazil this year and  wants to attain 3 percent of sales in the South American.  Production begins at a $400 million factory the company is building in … Continue reading

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