ChangAn Auto Group sales revenue hits $7.85 billion in 2007, up 24.5%

ChangAn Automobile Group, one of China's,biggest automaker, announced today that the group's revenue has exceeded 57.4 billion yuan (7.851 billion in U.S. dollars) in 2007, up 24.5 percent from one year earlier.

The Chongqing-based automaker is China's largest compact cars and small displacement engine maker. Its products lineups cover all segments of compact cars, sedans, SUV, MPV and commercial vehicles.

In 2007, the group sold 850,000 vehicles, up over 20 percent from last year, according to the announcement.

ChangAn Group has a joint venture company with Ford Motor Co and Mazda Motor in Chongqing, where Ford vehicles, including Focus, Festiva, Mondeo, Volvo S40, Mazda 3 are produced.

The automaker also has a partnership company with Japanese automaker Suzuki in Chongqing, where four Suzuki model are produced.

In the second half of 2007, ChangAn Ford Mazda opened a second plant in Nanjing, where Mazda 2 and redesigned Festiva are produced.
The Nanjing plant will have an annual capacity of 160,000 units and use Mazda's production system.

The Nanjing facility will give the ChangAn Ford an annual output capacity of 410,000 units in China. The plant will help Mazda achieve its annual sales target of 300,000 units in China, one of its mid-term goals to be achieved by 2010.