Chrysler CEO Eric Ridenour: China strategy remains unchanged

On April 20 at the Shanghai Automobile Show, Chrysler CEO Eric Ridenour announced Chrysler's long term plans in China.

Last year, DaimlerChrysler started the production and sales of the Chrysler 300C in China's market. This is the first Chrysler brand sedan in China. In February this year, the Group introduced the PT Cruiser, nowadays the Group are preparing the China made Sebring and Dodge Caravan, Chrysler Sebring and Chrysler 300c are different segment models, one is a luxury sedan, and the other is a mid class sedan.

Chrysler will focus on promoting new models in the China market; it is planed to launch 10 new models in the first quarter of 2008.

Research institutions expected that the global luxury car market will show steady growth momentum, sales will boost from 4 million units in 2005 to 4.5 million units in 2010. The growth is mainly from China, the Chinese sales of luxury cars will increase from about 150,000 units to 400,000 units in 2010.

At present, Chrysler Group has 70 Chrysler /Jeep brand dealerships in China, and the number will increase to more than 120 by the end of 2007. Mean while, we are also working with partners to establish separate Dodge brand networks. In the next eight months, Chrysler Group plans to establish 30-60 dealerships across the country.