Saying goodbye to the "Jiangqi phenomenon" and creating "JAC speed" (2003-12-24) Reporters learned from the Jianghuai Automobile Company's business conference recently held that this year the JAC Group's total annual production and sales of automobiles will exceed 100,000 units and sales revenue. For 14 consecutive years, the growth rate of annual growth of over 50% has been maintained. In the first 11 months of 2003, JAC Group’s core business, Jianghuai Co., Ltd., had sales of 5.396 billion yuan. As of December, JAC Group has cumulatively exported 2,616 vehicles to overseas markets throughout the year, of which light trucks exported 2,363 units. The JAC Group ranked 155th in the list of national large-scale enterprises recently released by the National Bureau of Statistics and ranked 269th among the top 500 Chinese enterprises in 2003. JAC has already bid farewell to creating the "JAC phenomenon" stage and has created an astonishing "JAC speed", and is advancing toward the goal of "building China's first-class commercial vehicle production base." After more than 10 years of development, JAC's product line has covered a full range of light trucks, heavy trucks, passenger cars and passenger cars. The full range of products is active in the urban and rural logistics industry. In 2003, cumulative sales of JAC light trucks will exceed 55,000 units, ranking among the top three in China's light trucks and setting a repurchase rate of 53.3%. While developing the domestic market, nearly 7,000 JAC vehicles have been sold overseas since 2000. JAC Ruifeng Commercial Vehicle has been forming a full range of senior high school third-grade products since it went offline in March 2002. It has achieved the industry record of one-day production and sales for the first time in 18 months. It is expected that this year's sales will exceed 15,000 units. In October of this year, the Geerfa heavy-duty truck base built by JAC was completed in volume production. On September 16, JAC Group successfully acquired 62.15 million state-owned shares held by Ankai Group, the largest shareholder of Ankai. This marks that the JAC product family has a series of passenger cars with the highest technical platform in the country and the most complete variety, and has made the JAC Group one of the most comprehensive corporate groups in the domestic commercial vehicle spectrum. Since the beginning of this year, the domestic commercial vehicle market has dropped sharply compared to last year. By contrast, the performance of JAC has attracted the attention of the industry. Jiang Jinhuai, general manager of Jianghuai Automobile Co., Ltd., said when talking about the competitiveness of enterprises, Jianghuai Group employees have a strong sense of development, in terms of light trucks, this year special emphasis on the development of small-tonnage products. At the same time, he pointed out that with the rapid expansion of the domestic passenger car market, the market share of commercial vehicles is gradually declining, but the attributes of their production materials make this model still have room for further development in the domestic market. He believes that unlike Japan and Europe, which have completed infrastructure construction, China is still in the stage of investment pull, and the demand for commercial vehicles has not yet reached market saturation. China's commercial vehicles will maintain the world's largest scale for quite some time.
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