On 19 June 2008, the company launched the Roewe 550, which is one of the most popular models under its Roewe brand. The Roewe 550, at a price ranging from RMB 142,800 to RMB 189,800, is targeted at the mid-class automobile market, which has the largest growth potential in the Chinese automobile industry. Previously, the Roewe 750 was launched for the high-end sedan market.

Under the current intense competition, the company that can succeed in the mid-class automobile market will succeed in China's automobile industry. In 2007, mid-class car sales accounted for half of the sales of the sedan car market, becoming the most important market segment in China. Consequently, numerous domestic and foreign auto makers launched their own brands to grab a piece of the pie in China's mid-class automobile market.

Source: China Securities Journal

Date: 23 Jun 2008

CN01/MZ/BT/KM