China's Lifan targets Philippine sedan market

Lifan, a Chinese car brand that is already in over 50 countries, will start to make its presence felt in the Philippine market where it launches its LF520 mid-size sedan on Friday.

Lifan Cars, a unit of conglomerate Lifan Group with operations in the financial and banking sector, real estate, football, and research and development, is confident of enjoying commercial success in the Philippine market "given the preference of Filipino car buyers to quality but more affordable vehicles," said its president Nelson Ong. The company is already present in countries in Latin America and in Europe.

Ong, in a statement, said Lifan Cars expects to be a major player in the car sector in the long run as the company plans to expand its product portfolio in the Philippine market.

Lifan Cars plans to introduce at least three car models this year and will open its first showroom in the country on West Avenue in Quezon City on Friday.

The LF520, which is already being sold in 20 countries including Russia, Vietnam, Iran, Chile and Venezuela, will be the first model that will be introduced here.

"One major consideration for Lifan's entry into the market is the availability of a good market. We believe that it will appeal to the young urban professionals and younger car enthusiasts, who comprise a large chunk of buyers in the local market," Lifan Cars general manager William Agcaoili said.

On top of their good design, Agcaoili said Lifan cars are equipped with powerful engines designed by United Kingdom-based engineering designs firm Ricardo Plc. Lifan autos are also said to be trendy and price-competitive.

The Lifan Group has long been engaged in the production of trucks, buses, motorcycles and car engines in China. It ventured into automobile production after seeing the growing demand for quality but affordable vehicles not only in the mainland but also in the global market.

In 2007, it was the market leader with sales revenues amounting to RMB 12.16 billion and export reaching $409.60 million.

Lifan Cars is the third Chinese brand to enter the car market, after Chery and Chana.