Yesterday, the new generation of Ford Transit was rolled off the assembly line at the Jiangling Quanshun Plant in Nanchang. At the off-site ceremony, Jiangling Motors Chairman Wang Xigao announced that “JMC will use five years to build a top-notch automotive manufacturing base with the most competitive commercial vehicles in the Asia-Pacific region.†Jiangling is expected to expand its production capacity to 150,000 vehicles.
As a globally-selling commercial vehicle, Ford Transit has been developing rapidly in China since it was introduced into the Chinese market in 1997. It has rapidly developed at an annual growth rate of over 30%, quickly becoming the main force in the high-end light passenger market in China and the champion of sales growth for ten years. . The new generation of Ford Transit was developed by Jiangling Motors and Ford's Chinese and foreign development teams in just 20 months. It has carried out a total of 2 million kilometers of localized experimental verification and established a brand new product development process.
In addition to the new generation of Ford Transit, the new product V348 is one of Jiangling's most important products in the future. Chen Yuanqing said that V348 is a leap for JMC, and it is also a testimony of Jiangling's good cooperation with Ford. The V348 project Jiangling invested more than 9 billion yuan in the early stage. This car is currently the mainstream model of European light passengers, and won the "European Commercial Vehicle Award" and other honors, the market advantage is stronger. Jiangling will use V348 as a platform to derive a series of high-end light passenger products. Jiangling will go through the high end. The introduction of Transit V348 is a very important step for the next five years of product planning.
This year, through three years of efforts, JMC has finally opened up the Russian commercial vehicle market. In the fourth quarter, Jiangling will hold a meeting of more than 100 global Jiangling agents to further strengthen Jiangling’s overseas market and expand its network.
In the past ten years, JMC has maintained an average sales growth of 37%. This year's interim results report shows that in the first half of 2007, Jiangling Motors Co., Ltd. sold 45,728 vehicles and achieved a net profit of 402 million yuan with strong earnings. This performance ranks among the top three domestically listed auto stocks.
According to industry sources, China's commercial vehicles are in a golden period of rapid development, and China has become one of the fastest growing and most profitable markets in the world commercial vehicle market. According to the latest data from the China Association of Automobile Manufacturers, the country’s total auto sales totaled 4.37 million units in the first half of the year, an increase of 23% year-on-year. In particular, the demand for commercial vehicles has rapidly increased. In the first half of the year, passenger cars and commercial vehicles sold 3.08 million units and 1.29 million units respectively, an increase of 22% and 26% year-on-year. Compared with the same period of last year, the year-on-year increase of the commercial vehicle market increased by 11%.
Chen Yuanqing, President of Jiangling Co., Ltd., said that JMC should become a first-class automobile manufacturing company with commercial vehicles as its core. Jiangling shares will not be excessively pursuing the expansion of production capacity and scale, but will build a high-quality commercial vehicle. Therefore, Jiangling shares proposed to be the most competitive commercial vehicle base, so that China's commercial vehicles truly based on the world market.
He said: At present, the Asian commercial vehicle market accounts for about 50% of the world's total sales. In Asia, led by China, India and South Korea, production and sales have surpassed the United States and Europe, becoming the main market for commercial vehicle growth. By 2013, it will become the largest production and sales market for heavy-duty and light commercial vehicles.
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