Japan’s Mitsubishi Motors says it is developing a low-priced car to be sold in China and Thailand as well as in the European market.
The car, expected to be priced at below one million yen ($9,650), would be based on a 660cc platform that is currently used only in Japan, Reuters quoted the company’s President, Osamu Masuko, as saying at the Beijing Auto Show.
The low-priced car was expected to be launched in 2010 in Japan, but the auto-maker has decided to extend the car’s sales to overseas markets, especially China, which could eventually become the supplier of Mitsubishi cars to other countries, Masuko said.
He added that the company aimed to increase engine production in China from 470,000 units a year to 900,000 over ’several years’ to match the country’s rising demand for cars.
China’s passenger-car sales surged 22 percent to a record 6.3 million units last year as economic expansion makes cars more affordable.
However, the auto-maker has predicted its US sales to fall by 10,000 units in 2008.
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