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Competitive prices drive demand for Chinese autos

May 11,2017
Demand for imported Chinese vehicles in Korea is rising mainly because of their price competitiveness, a local importer said Wednesday.

“To meet growing local demand for Chinese vehicles, we are planning to import an additional 320 Kenbo 600 sport-utility vehicles by the end of June,” a spokesman for Zhonghan Automotive Co. said.

The 1.5-liter gasoline-powered SUV model sells for between 19.9 million won and 20.99 million won ($17,500-$18,500) in the local market, the company said.

To strengthen its presence in Korea, the company plans to launch a compact SUV this year. Zhonghan Automotive, which imports vehicles from China for sales, sold 600 Kenbos by the end of April following its December launch, he said.

The company has partnered with BAIC Yinxiang Automobile, the trading arm of Beijing Automotive Industry Holding, or BAIC Group, to import select BAIC Yinxiang models suited for the Korean market.

Two other models being sold by the importer are the 1.3-liter gasoline-fueled CK minivan and the 1.3-liter gasoline CK mini truck priced at 11.4 million won and 10.85 million won respectively. YONHAP