Jiangling Motors builds first-class commercial vehicle base in Asia Pacific

On the day before yesterday, the latest generation of Ford Transit rolled off the production line at Jiangling Quanshun Plant in Nanchang. During the event, Chairman Wang Xigao of Jiangling Motors announced that "JMC will take five years to establish a top-tier automotive manufacturing base, with commercial vehicles that are the most competitive in the Asia-Pacific region." The company is expected to increase its production capacity to 150,000 units annually. As one of the best-selling commercial vehicles globally, Ford Transit has experienced rapid growth in China since it entered the market in 1997. With an annual growth rate exceeding 30%, it quickly became a key player in the high-end light passenger vehicle segment and has remained the top performer for ten consecutive years. The new model was developed by both Chinese and foreign teams from Jiangling Motors and Ford in just 20 months. It underwent over 2 million kilometers of localized testing and introduced a completely new product development process. In addition to the new Ford Transit, the V348 is considered one of JMC’s most important upcoming models. According to Chen Yuanqing, the V348 represents a significant leap forward for JMC and is a testament to the strong collaboration between Jiangling and Ford. The project saw an investment of over 900 million yuan in the early stages. This vehicle is currently a leading model in Europe, having won the “European Commercial Vehicle Award” and other accolades, giving it a strong market advantage. JMC plans to use the V348 as a platform to develop a series of high-end light commercial vehicles. The launch of the V348 marks a crucial step in JMC’s five-year product strategy. This year, after three years of effort, JMC successfully entered the Russian commercial vehicle market. In the fourth quarter, the company will host a meeting with over 100 global agents to further strengthen its overseas presence and expand its international network. Over the past decade, JMC has maintained an average sales growth of 37%. According to the company's mid-year report for 2007, it sold 45,728 vehicles in the first half of the year and achieved a net profit of 402 million yuan, showing strong financial performance. Its results place it among the top three listed auto companies in China. Industry sources indicate that China's commercial vehicle sector is currently in a golden period of rapid development. China has become one of the fastest-growing and most profitable markets globally. According to the China Association of Automobile Manufacturers, total vehicle sales reached 4.37 million units in the first half of the year, up 23% compared to the same period last year. Particularly, demand for commercial vehicles has surged, with 3.08 million passenger cars and 1.29 million commercial vehicles sold—representing increases of 22% and 26% respectively. Compared to the same period last year, the commercial vehicle market grew by 11% year-on-year. Chen Yuanqing, President of Jiangling Co., Ltd., stated that JMC aims to become a world-class automaker with commercial vehicles at its core. Rather than focusing solely on expanding production scale, the company is committed to building high-quality commercial vehicles. Therefore, JMC is striving to become the most competitive commercial vehicle base in the region, helping China's commercial vehicles gain a stronger foothold in the global market. He added that currently, the Asian commercial vehicle market accounts for about 50% of the world's total sales. Led by China, India, and South Korea, production and sales have surpassed those of the U.S. and Europe, becoming the main driver of growth in the commercial vehicle industry. By 2013, Asia is expected to become the largest market for both heavy-duty and light commercial vehicles worldwide.

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