Although many Western investors have begun to leave Latin America due to the gloomy economic outlook, several Chinese automobile companies have accelerated their expansions in this region, being sanguine about the local markets in the long run.
Chinese automobile maker Lifan officially opened its network of "dealerships" and began to sell its first model in Argentina on Thursday. "Lifan Argentina has kickstarted sales in the country by opening six exclusive car dealerships that are located in Capital Federal and Greater Buenos Aires," Paula Cavicchioli, Lifcar SA's director general, told local media. Lifcar SA is the local partner of the Chinese company. "Towards mid-2018, the network will comprise 23 comprehensive dealerships all over the country," said Daniel Lucesoli, vice president of Lifcar SA.
The brand was introduced to Argentina during the Buenos Aires International Auto Show in June 2015 and three of its models were put on display between December 2015 and February 2016. "The feedback from the public has been excellent and this has generated very good expectations for the brand's development in Argentina," said Cavicchioli. Lifan's first model in Argentina, SUV Lifan X60 1.8 MT Full Plus, is on sale at 353,720 pesos (22,100 U.S. dollars). Cavicchioli described the price as "a tempting proposal" to attract customers. Later on in 2016, Lifan will launch more models in the country.
Meanwhile, Lifan is not the only Chinese automaker that has started to implement new plans in this region. Just a day before Lifan's new model launching, Chery, another Chinese automaker, uncovered its Arrizo 5 in Chile, which is the first time for a Chinese automaker to launch a new model overseas ahead of the domestic market. "It is not a coincidence that we are the ones to receive this honor, because the brand has seen marked growth in Chile," said a local presenter of the launching event.
In recent years, Chery has grown steadily in Latin America and has been among the leading Chinese car brands there. Hugo Castro, general manager of Chery Motors in Chile, was "extremely optimistic" about the future sales of Arrizo 5, saying that the model "will surely be very well accepted in Chile and other markets."
Besides, Chery is now constructing a giant industrial park in Brazil's Sao Paulo state. The industrial park will have 25 businesses, such as warehouses, logistics firms, maintenance, services and components companies. According to Peng Jian, Chery's president for Brazil, investments in the park were estimated at 700 million dollars.
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