Sao Paulo, Brazil, December 16 – According to the report of Brazilian Universal Television, Jianghuai Automobile Co., Ltd. of Anhui, China, and Brazil’s SHC Auto Dealer Group signed a 10-year contract to export Chinese cars to Brazil on Tuesday. Sergio Habib, president of the SHC Group, said that the total investment for the project is US$100 million, not including the cost of establishing a distribution network. The initial plan is to establish 50 distribution points, 25 of which belong to the SHC Group. This will be the first time Jianghuai Auto enters the Brazilian market. Its competitors in Brazil will include Chinese companies such as Hafei Motor Company, Jinbei Automobile Company, Changan Automobile Company, Effa Motor Company (Changhe) and Chery Automobile Company. Habib said that the first cars will arrive in Brazil in March 2010 and will begin selling in Brazil by the end of 2010. SHC Group expects to sell 3,000 cars per month. Habib estimated that "I believe that in 2011 we can sell 35,000 cars and the market share will reach 1%." “We plan to sell 50,000 cars in 2012. The Brazilian market has a lot of room for growth.†Habib also said that the four models imported from Brazil will be synchronized with the release time in China.
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