Japan's Mitsuoka Motor Co. To Enter Chinese Market

Japanese Luxury Automaker Plans To Open Beijing Showroom By Q1 2010 The growing Chinese luxury market is a prime target for many Asian companies that have found demand in their home countries -- mainly South Korea and Japan -- either growing at a snail's pace or simply remaining stagnant. As formerly luxury-mad consumers in traditional markets like Japan cut back on their spending, high-end Japanese companies have started to look abroad for more opportunities, with China remaining the natural choice as a result of its proximity and massive population. Recently, Japan's Mitsuoka Motor Co., one of the country's major luxury automakers, announced their plans to enter the Chinese market next year, starting with a showroom in Beijing that is slated to open in April. To lead their China efforts, the company will display their Orochi model at next year's Beijing Auto Show and follow up their Beijing strategy with new dealerships in other top-tier cities: The Orochi will spearhead Mitsuoka's debut into China. The company plans to display the car at next year's Beijing Auto Show, and to open dealerships in Beijing, Shanghai and Guangzhou. With a goal of selling 35 vehicles in China in the first fiscal year, Orochi is expected to cost 50 percent more in China than it does in Japan. China automotive blog China Car Times provides some more detail about the Orochi: The Orochi is a made to order model, with over 25 interior color options to choose from and over 300 body colors to choose from. The Orochi currently sells for around 800,000rmb (US $117,177) in Japan , but an imported one in China is expected to cost at least 50% more.

Japan's Mitsuoka Motor Co. To Enter Chinese Market

On this page

Published September 28, 2009

Sectors

Insights

Company

Japan's Mitsuoka Motor Co. To Enter Chinese Market