Chongqing Changan Automobile (“Changan”) (SZSE:200625) is one of the largest automakers in China. It owns a joint venture with Ford. The joint venture Changan Ford has contributed to the majority of the company’s profits and launched in 2013 two locally manufactured sports utility vehicles (SUV) models, aiming to participate in the fastest-growing passenger vehicle segment. Ford is determined to ramp up production capacity to double their current production volume by 2015 and also expects to bring more new models to China and gain market share. In 2014, the company delivered a sales volume growth of about 20%, continuing to shine among peers.
From Value Partners (Trades, Portfolio)’ Classic Fund Q4 2014 Commentary.
