Changan to release ten new models in 2012

Gasgoo.com (Shanghai February 29) - Domestic own brands are hoping to recover this year after all around lackluster performance in 2011. Following news that the historic Hongqi and Shanghai brands are preparing to reenter the commercial market, the Beijing Youth Daily reported today that Changan Automobile will release ten models, including three new subcompacts and one new SUV, this year.

Despite being active in the subcompact market for several years, Changan has yet to reap any major successes. After analyzing market demand, Changan released the new Honor commercial use minivan (pictured), which hit the market last week. The Honor is situated at the high end of the commercial vehicle segment. It has been very well received, with over 100,000 preorders booked in the three months following its debut at last November's Guangzhou International Automobile Exhibition. Priced between 44,900 and 60,900 yuan ($7,131-$9,673), Changan has a great deal of faith in the Honor's performance, with Group General Manager Zhang Baolin expecting its first annual sales target of 80,000 units to be met easily. Deputy General Manager Wang Jun added that the Honor was only the first of many vehicles to be built on the new platform.

According to Mr. Zhang, the new models to be released this year will include the Eado (pictured below), which made its debut at the Frankfurt Motor Show last year, the compact B501 and mid to high end CD101. Additionally, the manufacturer will be introducing a new microvan and truck in the fourth quarter. When counting the five models Changan's joint ventures have scheduled to release this year, 2012 looks to be a profitable year for the Chongqing-based manufacturer.

Changan's sales target for this year is set at around 2.2 million vehicles, with own brand sales to account for 1.1 million to 1.2 million of that amount.