Cummins announced its future development strategy in China. The future products will extend from high-end to mid-range, and will be tailor-made for the Chinese market. The Chinese market will be taken as a breakthrough point for the global economic crisis.
According to China News Agency report on January 21, the Chinese auto market has unprecedented "blowout." While overseas auto giants have stepped up their efforts to enter the auto market in China, overseas parts and components companies have not been behind. Cummins, the American manufacturer of diesel engines, the world's largest independent engine manufacturer, decided to take the Chinese market as a breakthrough from the dilemma of the global economic crisis. The Chinese market has become the top priority of its future development strategy.
The reporter was informed that Cummins has announced the latest development strategy in China in Beijing. The overall performance of Cummins in the world fell in 2009. As China's commercial heavy trucks and Other commercial vehicles also suffered cold weather in 2009, their sales in China were not satisfactory. Although Cummins has established a joint venture in China for more than 10 years, it is not satisfied with China. According to Cao Side, the newly appointed vice president of the China Business Group, Cummins's future development strategy in China is: From 2010, plans to use five years to change the "self-centered" development strategy, and actively meet the Chinese market. Products will be extended from the high end to the mid-end and will be tailored to the Chinese market. The growth rate of China's commercial vehicle market will be about 10% in 2010. As the first year of strategic adjustment, Cummins’s sales in the Chinese market are expected to reach US$2.5 billion this year, which is a year-on-year increase of 20%.
According to industry insiders, given that the foreign giants of parts and components have begun to increase their localization efforts, they are currently facing a fierce competition in the Chinese auto parts industry and will face a fierce new round of impact.
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