Foton becomes world's largest commercial car maker in Q1

Shanghai, April 16 (Gasgoo.com) Chinese car maker Beiqi Foton Motor said on Thursday that it sold 125,000 vehicles in the first quarter this year, up 28.6% over the same period of 2007 and 10% higher than the industry average, beating Benz to be the world's largest maker of commercial cars for the first time in terms of sales.

Foton's robust growth was strongly evidenced by its sales in March of a total of 65,000 units, a staggering number that accounts for half of China's total sales of commercial vehicles. Sales of high-end models such as Ollin represent one third of its total earnings. In addition, exports of the car maker increased 118.7% in the first quarter to nearly 10,000 units.

Meanwhile, the company unveiled a new commercial car model named Midi, which will be available for sales next month with an estimated price of no more than 10,000 yuan ($1,428). The Chinese market has similar models such as FAW VW's Caddy and Chery's Karry, but the Foton Midi highlights a mix of family use and commercial purposes. The design of the Midi model was based on the spacious van platform to create a heavy-duty and roomy model for family and commercial use.

Beijing-based Foton is one of China's home-grown auto makers which focus on self-developed models with independent intellectual property. Though it has become the global Number One in the commercial vehicle segment, Beiqi Foton has an uphill struggle in the sedan project.