Chinese Auto Giants want to make foray into Indian car market

 The Chinese dragon has set its eyes on the Indian car market. Two leading automakers, Chery Automobile and Great Wall Motors are planning to enter India soon through joint ventures, senior company officials revealed at Shanghai Motor Show.
They are on their verge to finalize a local partner in India for the joint  venture. India is a huge market and holds great potential for carsales, Chery Automobile president Yin Tongyao said.
Chinese carmakers are moving their focus from their main markets like US and Europe as volumes there are shrinking due to the global slowdown. At the same time, Demand in India as all time high India and there is lot of opportunities.
Chery was said to be in talks with International Cars & Motors Ltd (ICML), around three years back to roll out its small car in India. But the talks never resulted into a joint venture. Chery, famous for its small car QQ, is aiming sales of 4.19 lakh units in 2009, an 18% increase over 2008. The QQ comes in two petrol engine variants, 0.8-litre and 1.1-litre.
Chery Automobile plans to sell cars in India by 2010. Apart from the distributor partners company is also keen to establish manufacturing unit. The plan is to make cars at good price with good quality.