Cummins Shifts Focus to Low-end Market in China
2008-08-19 Source：english.chinabuses.com
U.S.-based Cummins Inc, the world's largest manufacturer of diesel engines, is planning to shift its focus to the low-end market in China from the high and mid-end market, sources reported citing John Watkins, Cummins vice president and chairman and CEO of Cummins (China).
He noted the emerging Chinese market contributes a lot to Cummins' global profit with its China sales growth more than quadrupled during the period from 2002 to 2007.
The company had invested about seven projects in China, including joint venture cooperation with Shanxi Auto Group and Futian Auto Co. Ltd.
The company attributed its record business achievement for the first half of this year to the strong profit support from the emerging markets, especially Chinese market, which has efficiently offset the loss from the weary western market, such as the North America.
Watkins also noted that the company has a relatively small market share in China. In 2007, Cummins sold 180,000 units of commercial diesel engines in the country, accounting for less than 10% of China's total output, which stood at 2.30 million units.
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