SAN ISIDRO, Argentina, Dec. 10 (Xinhua) -- Chinese automobile manufacturer Changan made its official debut in Argentina on Monday, where it aims to capture a larger market share in the long term.
The brand is partnering with Argentina's leading dealership Car One Group to venture into the local market with two SUV models known as CS15 and CS75.
Changan unveiled the models in San Isidro, a city neighboring Buenos Aires.
"Our main objective is always to outdo ourselves and be the leading company in China," said Wang Huanran, president of Changan International Corporation.
"To do that, we invest 5 percent of our earnings each year in research and development, and for 10 years in a row we have been the number one in automobile research and development in China," Wang said.
Three different versions of the CS15 will be on offer, including the Comfort line, with either manual or automatic transmission, and the Luxury line with automatic.
Ban Shenzhen, Changan's director for the Americas region, told Xinhua "the Argentine market is a very important and big market for us, (representing) more or less one million units annually."
"Argentina will increase in volume in the long term, and that's why we are entering the market now with our products," he said.
Chinese-made vehicles are increasingly gaining market share in Argentina, with Chinese brands seen in Buenos Aires and other major cities.
In September, China's JAC Motors joined 11 other Chinese automakers already operating in the South American country, such as Chery, Lifan, Great Wall, Haval, BAIC, DFSK, DFM, Foton, Geely, JMC and Shineray.
JAC entered the local market with commercial and passenger vehicles, including SUVs, pick-ups, and light and heavy commercial vehicles.
Changan has sold more than 270,000 vehicles since it went international in 1991, establishing 255 points of sale and service in more than 41 countries, with manufacturing plants in Russia, Vietnam and Egypt.
Foreign sales totaled 41,000 units in 2017, up 53 percent year on year. The sales forecast for 2018 is 44,000 units, according to the company.
One of the brand's important markets is Chile, where Changan began operating in 2008 and sold 14,000 units last year.
Juan Deverill, marketing director for the automobile division of Car One Group, highlighted the company's business prospects.
"Our business is a long-term business, and brands are built over the long term. We are going to start off with Changan with slow, firm steps, in a tough context but with a promising future, as Argentina develops," he said.