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Lotus hopes for blossoming sales in China

(China Daily)

09:41, November 03, 2011

BEIJING - China is crucial to British sports and racing car brand Lotus' revival in the global market, with the country expected to generate more than one-fourth of its total sales within the first four years of operation, said a company executive.

"We see China as absolutely the most important market for us to further develop around the world. Although we're just entering the market with the most potential today, we believe that within one year, China will replace Japan as our biggest market in the Asia-Pacific region."

Contributions from China will "help the Asia-Pacific overtake Europe and North America to be the largest regional market for us by the end of 2012," said Christopher Nicoll, general manager for Asia-Pacific region at Lotus Cars.

He said that in its first year in the China market, which will be in 2012, Lotus hopes to sell more than 300 vehicles, equivalent to total sales in Japan last year.

"By 2015, we expect China to contribute 25 to 30 percent of our total sales," added Nicoll. Lotus Cars sold 2,700 vehicles worldwide in the last fiscal year.

Chief Executive Officer Dany Bahar said earlier this year that the brand hopes to sell 6,000 to 8,000 sports and racing cars a year globally by 2015, as part of a five-year revival plan to emerge from 20 years of stagnation.

The British traditional car brand opened its first showroom in Beijing and officially began selling its cars in China on Wednesday. According to Nicoll, Lotus will add three showrooms - in Shanghai, Guangzhou and Chengdu - by the beginning of 2012, and it will have 30 dealerships nationwide by 2014.

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