Word: qq
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Dates: during 2000-2009
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...reduction policy," says Yao Jie, deputy secretary general of China Association of Automobile Manufacturers. While domestic brands accounted for 26% of the market last year, their share climbed to 30% in January, Yao says. Chery Automobile Co, the highest-selling Chinese automaker and manufacturer of the popular QQ compact, says it expects to increase sales by 18% this year...
...handful of sophisticated players (Honda, Toyota, BMW) consistently post profits. Geely was founded as a maker of refrigerators in 1986 and shifted to cars in 1998; Chery launched its first model in 2000. And although Chinese vehicle quality is improving, it lags Western standards by wide margins. Chery's QQ model, for instance, had an average 391 problems per 100 vehicles, according to J.D. Power's latest initial-quality survey. For U.S. models, the average is 118. Chinese manufacturers must also redesign cars to meet tougher U.S. emissions and safety standards, a cumbersome, costly process. And they must build distribution...
...buying its cars. A unit of GM last month filed a lawsuit in Shanghai accusing Chery Automobile Co., the Chinese automaker, of filching production-line blueprints for a compact car, the Chevrolet Spark, which GM says cost "hundreds of millions of dollars" to develop. Chery's car, called the QQ, does indeed look like an identical twin to the Spark and comes in candy colors designed for Chinese women drivers. The main difference is QQ's $3,600 sticker price, a third less than Spark...
...quit his job at a paging company in 1998 and, with four friends and total combined savings of $120,000, started the company. Ma did just about everything himself, from designing websites to mopping the floor. Tencent's break came in 1999, when it launched its QQ instant-messaging service. Today, despite competition from Yahoo! and Microsoft, QQ boasts 74% market share in China. Profits rose 44%, to $40 million, in the first nine months of this year. But Ma hasn't abandoned his tech-geek lifestyle--except for one thing: "I don't sweep the floors anymore," he says...
...small company in Anhui province now called SAIC-Chery Automobile began appearing: it was made with components provided by suppliers that were believed to have signed exclusive deals with Volkswagen's joint venture. More recently, Chery has run afoul of GM by releasing a car, called the QQ, that looks almost exactly like a GM model--the Spark--that didn't hit the Chinese market until December. PSA Peugeot Citroen, the French maker of the successful Citroen sedan in central China, faces a similar problem. A local producer called Shanghai Maple introduced a model that looks startlingly like the Citroen...