Although Lifan are not a strong name in the Chinese market, they have grown at a rapid rate in the global market, particularly in developing markets such as Russia.
At a press conference earlier today it was announced that Lifan exported 53,000 vehicles this year and expects to export 75,000 by the end of the year, this figure is going to be expanded to 120,000 vehicles per year by 2015.
From 2007 to 2011 Lifan’s export sales have increased from 4990 vehicles to 45,900 vehicles, an increase of over 800%. In the first half of 2012 Lifan has found major customers in Russia, Iran, Iraq, Algeria and 11 other major markets, giving it a 10% market share of all Chinese auto exports.
Lifan will launch the new 420 in early 2013 which is aimed squarely at the South American market, in addition the Chongqing based company is also looking to establish an overseas R&D center to assist the company become more internationalized.