V3 Lingyue sedan gets 6,000 orders a month

Shanghai, November 26 (Gasgoo.com) Fujian-based carmaker Southeast Motor revealed on Tuesday that its first self-developed compact sedan V3 Lingyue launched in late October has secured more than 6,000 orders now, said xinhuanet.com today. This new car is expected to sell at least 5,000 units each month ahead.

As a strategic own-brand model of Southeast Motor, the new V3 Lingyue model is equipped with the all-new 1.5L MIVEC engine based on the cutting-edge engine technology of Mitsubishi Motors, a Japanese investor and partner of the Chinese carmaker in Fujian province. The new engine, made by Harbin Dongan Mitsubishi, delivers powerful performance, rapid reaction, high security and fuel efficiency.

The V3 Lingyue compact sedan came off line on August 28 and was launched onto the market in late October, priced at 60,000 yuan ($8,780) to 80,000 yuan, about 40,00 yuan lower than Lancer, a sedan jointly developed by Southeast and Mitsubishi. Southeast Motor believes that the price, plus excellent features sharing with Mitsubishi, Chrysler and Dodge cars, would make its flagship model V3 Lingyue more competitive in the market.

The new V3 Lingyue model, which has got bumper ordering in a month since its launch and is expected to sell at least 5,000 units a month, may help boost the company's sales performance. Of the V3 Lingyue model's five editions, the luxury and flagship versions are much better received. Last week, Southeast Motor also started to sell its new MPV model the Mitsubishi Zinger.

The carmaker reportedly sold 30,000 vehicles in the first nine months this year, down from sales of a year earlier and below the industry average drop. Southeast Motor plans to launch one A-class or B-class proprietary car in each of the coming few years to boost its market growth.

Southeast Motor Corp was jointly built by Fujian Motor Industry Group and its Taiwan partner China Motor Corp in 1995. Japanese Mitsubishi Motors invested in Southeast Motor in 2006. Fujian Motor holds 50% stocks and the other two hold 25%+25% in the company. The three sides have recently decided to add their investment in expanding the joint venture.