cens logo

CMC Targets Annual Vehicle Exports of 4,500 Units for 2014

2014/05/06 | By Steve Chuang

With efforts on exploring overseas markets paying off, China Motor Corporation (CMC), a Taiwanese carmaker, targets annual vehicle exports of 4,500 units this year, according to the company.

To revive its overall performance amid the sluggish Taiwanese automotive market for years, CMC has been tapping exports. The firm has successfully built solid ground in the Filipino market for commercial vehicles, and achieved banner exports to the Middle East by selling Mitsubishis that it contract manufactures.

Notable is that CMC's overall exports surged  45% to 3,266 units last year, apparently impervious to the persistent depreciation of the yen, which further enhanced Japanese vehicle vendors' global competitiveness to weigh on  competitors.

Industry insiders say that CMC's current success in export is attributable partly to the partnership with Mitsubishi, which contracts CMC to supply its best-seller, Lancer Fortis, to the Middle East.

CMC says that it has spent considerable time and resources promoting business and building distribution channels in overseas market in the past year, and the painstaking efforts have borne fruit, with exports exceeding 3,000 units in the first year. The achievement makes the Taiwanese carmaker, who has just begun exporting, more confident of attaining 2014 exports of 4,500 units.

Despite a revenue decline resulting from sagging domestic sales last year, CMC still posted growing profits, thanks partly to effective cost control and partly to robust vehicle exports and CKD (completely knockdown) kit shipment. For this year, the carmaker targets annual vehicle sales of 50,000 units, including exports. (SC)