Top Biz News

FAW pioneers bus joint venture with Daewoo

By Yu Qiao (China Daily)
Updated: 2006-12-27 10:59

Sales of domestically made buses rose by 9.06 per cent year-on-year to 170,700 units in the first 11 months of this year, according to industry statistics.

Many bus makers in the world, such as Volvo AB, Mercedes-Benz of DaimlerChrysler and Neoplan of MAN, also build their vehicles in China.

However, China's bus sector is highly fragmented.

Currently, there are more than 100 companies making buses in China, which has led to hot price wars.

In order to boost sales, many Chinese bus makers are now making inroads into foreign markets.

Yutong, the biggest bus producer in China, said earlier this year that it aimed to sell one-third of its products overseas annually in the years to come. The company, based in Central China'sHenanProvince, plans to build a slew of plants in foreign countries. It currently has a plant in Cuba.

Yutong aims to double its overall production to 40,000 buses a year by 2012 from last year.

FAW, based in Northeast China'sJilinProvince, is also making own-brand cars, trucks and vans as well as cars and sport utility vehicles under the marques of Toyota, Volkswagen from Germany and Japan's Mazda.

From January to November this year, FAW's sales climbed by 22.7 per cent to 1.06 million vehicles year-on-year, ranking second afterShanghaiAutomotive Industry Corp.