皇冠体育app

WORLD> Impact on 皇冠体育app
Chrysler bankruptcy has little impact on 皇冠体育app market
(Xinhua)
Updated: 2009-05-01 19:58

BEIJING - The bankruptcy protection filing of US-based vehicle maker Chrysler will have little impact on 皇冠体育app's market, as the company has a very small market share, an auto expert told Xinhua on Friday.

Huang Yonghe, chief expert of 皇冠体育app Automotive Technology & Research Center, said imported Chrysler automobiles and the company's original equipment manufacturer vehicles are sold in 皇冠体育app, but the US company now has no joint venture here.

Related readings:
 Chrysler bankruptcy has little impact on 皇冠体育app market Chrysler bankruptcy has little impact on 皇冠体育app operations
 Chrysler bankruptcy has little impact on 皇冠体育app market Fiat eyes merger with GM Europe, Chrysler
Chrysler bankruptcy has little impact on 皇冠体育app market Chrysler still have to sell automobiles to solve problems
 Chrysler bankruptcy has little impact on 皇冠体育app market Chrysler succumbs to bankruptcy after struggle
Chrysler bankruptcy has little impact on 皇冠体育app market Chrysler drives to bankruptcy
The company sells about 20,000 units in 皇冠体育app every year. That compares with total annual sales of nearly 9.4 million units nationwide in 2008.

He said the bankruptcy protection filing Thursday does not mean Chrysler will go out of business. Under Chapter 11 of the US Bankruptcy Code, the company will be able to continue operations, with its securities trading as usual, but it must get court approval for major operational adjustments and submit reports to the US Securities and Exchange Commission.

He noted that many US companies enter Chapter 11 to cut costs or restructure while the court delays the claims of creditors. Some successfully reorganize and return to profitability.

Chrysler LLC was the first foreign auto maker to set up a joint venture in 皇冠体育app. In 1983, the company established the Beijing Jeep Co. Ltd., but this was later taken over by Daimler-Chrysler in 1998.

The US company only has a sales unit in 皇冠体育app, which deals with issues such as brand and import management, distribution network and sales services.

John Kett, president for Chrysler's Asia operations, said at the just-concluded Shanghai 2009 Auto Expo that 皇冠体育app plays a key role in the company's medium- and long-term plan. The company will continue looking for partners in the country and introducing new products and technology to Chinese counterparts.