Lifan 620 sedan sells in Beijing for 79,800 yuan

Shanghai, October 24 (Gasgoo.com) The Lifan 620 compact sedan has come to the Beijing market at a price between 69,800 yuan ($10,230) and 79,800 yuan, said xinhuanet.com today.

Derived from the Lifan 520 model, the Lifan 620 model is the first mid-class sedan made by Chinese carmaker Chongqing Lifan Group, who showcased this new car at the 2008 Beijing auto show in April. The Lifan 260 is equipped with an imported 1.6-liter Tritec engine which generates 85 kw and 149nm and boosts a top speed of 111 mph.

Production of the Lifan 620 sedan had been delayed for a long time before its official launch earlier this month. Currently the existing 1.6L model has the DX economic, LX comfortable, and EX luxury versions, selling for 69,800 yuan, 73,800 yuan, and 79,800 yuan respectively. The Lifan 4S flagship store in Beijing has only LX comfortable edition available, and the other two can be ordered.

Lifan Auto expects to increase its 4S stores to 500 nationwide by the end of this year. The Lifan 620 model now on sale will boost Lifan's sales network by expanding the model lineup for the dealers. The Chonqing-based Lifan first started as a motorcycle maker in 1992, and has stepped into automobile business in recent years.

Lifan Group has said its operations will not affected by its U.S. investor AIG which bought 13.5% of Lifan in July. AIG's $90 million investment had all arrived in Lifan by October 21.