SAIC starts China sales of Roewe 550 Thursday

Shanghai, June 20 (Gasgoo.com) China's largest automaker Shanghai Automotive Industry Corporation (SAIC) has officially started to sell its own-brand Roewe 550 sedan in China on Thursday, priced at 142,800 ($20,765) - 189,800 yuan.

SAIC has not given any timeline for exporting the model but said it's a world-class car targeting global consumers. Early media reports say this car will hit the European market in early 2009.

The Roewe 550 was unveiled by SAIC at the 2008 Bejing Auto Show in April. It is set to compete with models like Mazda3, Honda Civic, Ford Focus and VW Sagitar. The Roewe 550 is based on the Rover 75, but is shortened, modified and restyled. It is 4,624 mm in length, 1,827 mm in width, 1,480 mm in height and has a wheelbase of 2,705 mm. The turbocharged engine could turn out a maximum of 118 kW.

Currently SAIC owns the intellectual property of Rover and MG models and has already relaunched the old Rover 75 as the Roewe 750 in the Chinese market in early 2007. Sales of Roewe 750 have reached 25,000 units so far.

Roewe 550 made its debut at Beijing Auto Show in April