Dongfeng Opens First Flagship Store in Russia
www.chinatrucks.com: On July 25, 2017, Dongfeng opened its first Russia flagship store and held an opening ceremony. Dongfeng thus becomes the first Chinese automobile enterprise having exclusive sales store in Russia. This flagship store will be a backbone of Dongfeng’s expansion into Russia market.
General Manager of Dongfeng Import and Export Company Li Junzhi says that Russia is an important market for Dongfeng to achieve its overseas strategy. Dongfeng is striving for selling 5.6 million units per year by 2020 and challenging a sales target of 6 million units per year, 150,000 units of which are sold in overseas market. Currently, the automobile market in Russia is in a low point. But the market will turn better with the economy’s blooming due to over 140 million populations of Russia and strong rigid demand.
Li also says that in the past 10 to 20 years, Chinese automobile industry develops very fast and Chinese enterprises have already been able to compete with international enterprises in cost, quality and service. With the development of “Silk and Road”, Dongfeng has singed strategic cooperative agreement with international companies from over 20 countries and will focus on developing market along “Silk Road Economic Belt”. In future, Dongfeng will continue to develop Russia market and provide good services in brand, products, R&D, sales and aftersales, etc. It might invest to establish a plant for localization in Russia or cooperate with local famous manufacturer to make production.
It is learned that Dongfeng ssold 8 million units in 2016 with total revenue of 82.8 billion dollars. The company ranks the 68th among the Fortune Global 500, according to the annual ranking released by Fortune on July 20.
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