CNHTC speeds up market expansion in Russia
On 25th Feb. Mr. Chunji Ma Chairman of CNHTC and Sinotruk (Hongkong) Limited visited Russia and signed a memo with Russian Amosgilry(transliteration) Company General Manager Mr. Laptev on the processes of speeding up market expansion, complete vehicle sale and set up a JV HOWO-ZIL company. The two sides set a business target of selling 30,000 complete vehicles in 2010 by four steps which indicates that CNHTC upgraded its cooperation with Amosgilry. The cooperation will promotes CNHTC’s expansion in Russia truck market.
According to record of Russian Customs, in the first 8 months of 2007, Russia imported 8,408 units heavy duty trucks (≥20tons) of which there were 4,045 units China made trucks. The 4,045 trucks are mainly dump trucks. Sinotruk was a big winner in the Sino-Russia truck business. In the 4,045 trucks, there were 2237 Howo dumpers, 163 tractors and 113 special purpose trucks. According to expectation of Russia local dealers, the number in 2008 can be 4,000 units.
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