Shanghai General Motors Co Ltd introduced its latest generation
Chevrolet Epica, a model designed to improve the brand as well as
the firm's competitiveness in the mid-class car segment.
The revamped Epica, equipped with a two-liter D-Tec engine, will
be priced from 137,800 yuan (US$17,794) to 162,800 yuan in four
configurations, according to the company's statement over the
weekend.
The model was redesigned and has new parts to compete in China
with other middle-class sedans such as Ford's Focus.
"The new Chevrolet Epica will play an important role in
continuously lifting the Chevrolet brand," said Ding Lei, general
manger of Shanghai GM. "It will replace the old generation and
became a new flagship model."
Shanghai GM, a joint venture between General Motors Corp and
Shanghai Automotive Industry Corp, launched the Chevrolet in 2005.
It also produces Buick, Cadillac and Saab models. The car maker has
moved to build up the Chevrolet brand by adding new products. It's
in response to the increase in young auto buyers with awareness of
lower-priced economic cars for family use.
Sales of the Epica, which was developed on a Daewoo model after
GM bought the South Korean auto maker, were flat at more than
25,000 units last year due to a relatively high price and
overlapping positioning strategy with its Buick models.
The new Chevrolet Epica will cost about 10,000 yuan less than
the previous generation based on luxury specifications. The
carmaker expects the competitive price will help boost sales 50
percent annually and improve total sales of Chevrolet models 20
percent this year.
"GM is quick in discovering various niche markets with models to
win the market in a very short time," said Rao Da, secretary from
the National Union of Passenger Car Market and Information.
Shanghai GM said it sold more than 200,000 units of Chevrolet
models as of the end of last year. In addition to the Epica, the
car maker also plans to accelerate the development of other
Chevrolet brands.
Shanghai GM sold 413,367 units last year, a rise of 23 percent
from 2005, to rank No. 1 among all auto makers in China.
(Shanghai Daily March 12, 2007)