Brilliance China Sells 1,500 Zhonghua Cars In First Month

September 23, 2002 SHANGHAI -Dow Jones reported that Brilliance China Automotive Holdings Ltd. , which officially moved into the passenger car market in August, said Monday that it has sold more than 1,500 cars.

The company provided no further details.

Brilliance China launched its Zhonghua model sedan Aug. 20, with a goal of selling about 40,000 units annually.

New York and Hong Kong-listed Brilliance owns 51% of China's leading minibus manufacturer Shenyang Jinbei, which is now making the Zhonghua sedan. Brilliance also has interests in several automobile parts makers in China.

The Zhonghua car, whose name means China, has a standard retail price of 169, 800 yuan. Brilliance started production of the Zhonghua in 2000 but didn't receive central government approval to sell the car nationally until May 2002.

Brilliance also has a planned joint venture with luxury carmaker Bayerische Motoren Werke AG of Germany, which is expected to start making BMW "3" and "5" series cars in the second half of 2003.