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TRUCKMAKERS' NEWS * WORLDWIDE
* China - Sinotruk Targets Middle East, Africa, Russia Ventures
Hong Kong,China -Bloomberg (UK), by Tian Ying -June 27 -- Sinotruk (Hong Kong) Ltd., China's biggest heavy-truck maker, is in talks to establish joint ventures in the Middle East, Africa and Russia within six months, moving to boost overseas sales as domestic margins shrink... The company plans to sell 33 percent of its vehicles overseas by 2010 as it is being squeezed domestically by competition from Dongfeng Automobile Co. and surging material costs, President Cai Dong said... Sinotruk already sells trucks in kit form to independent assemblers in Indonesia, Vietnam and Morocco. The truckmaker has no plans to seek acquisitions overseas at present because it isn't yet ready to run international units, Cai said... The company is targeting emerging markets because its vehicles are more competitive in those areas, he added. The truckmaker doesn't plan to develop vehicles for Europe and North America in the near future, he said... Sinotruk's overseas sales more than doubled last year to 15,715. That helped overall sales of Howo trucks and other models climb 64 percent to 84,481. The company had a 21 percent share of China's heavy-duty truck market in the period... A new engine, which meets Euro III emission standards, may help boost Sinotruk's sales after China introduces tougher emission rules next month, Cai said. The engine will raise the sales prices of Sinotruk vehicles by about 10,000 yuan, compared with a 24,000 yuan increase for rivals, he said... The truckmaker has sold more than 1,000 vehicles fitted with the engine, according to its Web site. It will take competitors months, if not years, to develop rival models, Cai said... (Photographer: Kevin Lee/Bloomberg News - A Sinotruk Ltd. truck drives on a road in Shanghai, Nov. 21, 2007)Labels: truckmakers news worldwide
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