Ciasulli Says Chery/Visionary Vehicles Joint Venture Is Solid Gold For The American Market

Union, NJ - December 1, 2005 -Tim Ciasulli, CEO of Planet Honda and Head of the Visionary Vehicles Dealer Board, said that in all of his family's years of selling almost a million automobiles, he has never seen anything as spectacular as what the American public is about to experience when the first Chinese automobiles arrive from Chery Automobile in 2007.

Ciasulli and Malcolm Bricklin, CEO of Visionary Vehicles had just arrived back from Wuhu, China, where they met with Chery Automobile President Yin Tongyao for a two-day strategic planning meeting. While in China, Ciasulli and Bricklin held discussions with the top officials at Chery, toured the factories, inspected the quality of the automobiles, took several test drives, and reviewed the strategic plan for the North American launch.

"When I saw the world class quality of the Chery factories and the quality of the current automobiles, I was blown away!" said Ciasulli, "If I wasn't there myself, I would never have believed that the American public is going to have the opportunity to buy top of the line, fully-loaded cars for thirty percent lower than the current pricing available from Detroit today. This trip has redefined my life as an automobile dealer.

"My late father Robert was a mega dealer for over twenty different automobile brands, and I can honestly say the Chery/Visionary Vehicles venture is probably the biggest opportunity that has ever come along for both car dealers and the buying public. It is going to revolutionize the auto industry. Unless you visit Wuhu personally, you just can't comprehend the depth and breadth of what is going on there."

Commenting on the partnership between Chery and Visionary Vehicles, Ciasulli said: "The Chery officials were very excited by the presentation Visionary Vehicles gave them detailing brand positioning, the launch model line up, marketing, shipping, logistics, quality control, lineup of dealers, investors and territories sold. Dr. Kan, a top Chery executive, indicated that Chery could not enter the United States without the expertise and experience from Visionary Vehicles. I heard the words myself. He also relaxed some of the overzealous deadlines that were first established because everyone on the team is more realistic now, and are comfortable with the progress which has been achieved.

"When President Yin met me he said 'you are the most important person in this venture. We must have quality dealers with long-term vision and commitment. Every dealer is invested in the venture.' "

Ciasulli said investing in the Chery/Visionary Vehicles venture is like buying Honda or Toyota stock. "This is an opportunity that Detroit never offered any dealer before. Our investment dollars is not just about owning a territory, it's about owning a piece of Visionary Vehicles too. Their plans call for a million cars a year in five years. That is the kind of stock I want to own, especially since I have real input into the design, product content, pricing, and marketing strategies."

Ciasulli concluded by saying, "I was in my hotel room in China when the BBC announced that General Motors was cutting 30,000 workers, 25 per cent of their workforce. If I was not a part of the Chery/Visionary Vehicles venture, I would have felt despair for the auto industry in the United States. Now, all I can think about is that this is the golden opportunity of a lifetime."