King Long bus, coach '08 export revenue up 90%

Shanghai, December 19 (Gasgoo.com) Xiamen King Long United Automotive Industry Co Ltd, a Xiamen-based bus and coach manufacturer, expects its export revenue to rise by more than 90% year on year to $200 million in 2008, defying the global auto market downturn, state media reported earlier this week.

Over the past three years, King Long has been growing by over 30% annually, and this year it will chalk up 5.3 billion yuan ($774 million) of sales, 25% of which will come from overseas business. As a leader in China's coach-making industry, King Long contributed 18% of all the buses and coaches the country exported in the first ten months of 2008, up from previous year's 13%, according to Custom figures.

The company attributed the strong export growth to its proactive sales strategy and overseas management system covering sales, after-sales service, product certification, international financing, customer relations and logistics. The company has a staff of 100 to manage its overseas expansion and its vehicles have met international vehicle standards like Russia's GOST (gosudarstvennyy standard) and Australia's ADR (Australian Design Rules) for imports.

Founded in 1988, the Xianmen coach-maker started its overseas business in 2001, and now has a sales network spreading in 55 countries or regions. In 2008, King Long has expanded to 10 emerging markets including Australia and Cuba. The company plans to sell half of its products to foreign countries in the future.

King Long will focus on African market next year, as the ongoing global financial crisis is likely to have a mild impact on the continent, while continuing to explore Asian markets such as Singapore, Thailand, India and Pakistan. It has also identified Latin America as a key market.