Chinese car maker Chongqing Lifan Industry (Group) Co. Ltd of China will introduce to the Philippine market an affordable passenger car models popular in Latin America and Europe.

It will launch later this month its LF520 mid-size sedan, which boasts of industry leading technology and competitive rates. The LF520 is in great demand in major markets and is exported to over 50 countries, including Russia, Vietnam, Iran, Chile and Venezuela.

Lifan Cars president Nelson Ong said the company would enjoy commercial success in the Philippine market given the preference of Filipino car buyers to quality but more affordable vehicles.

?We are confident that the entry of Lifan Cars will help revitalize the local domestic industry as it gives car buyers more choices. Car buyers will also enjoy considerable savings without compromising the quality, safety and comfort of their vehicles,? Ong said in a company statement.

He said Lifan Cars was expected to be a major player in the car sector in the long run as the company pland to expand its product portfolio in the Philippine market.

Lifan Cars plans to introduce to the local market at least three more car models this year.

General manager William Agcaoili said he was confident domestic sales would be strong given the rising demand for quality but affordable vehicles and the growth of the auto industry in general.

Vehicle sales last year rose 6 percent to 124,449 units compared with those in neighboring Asian countries, where sales and profits declined amid the global financial crunch.

?One major consideration for Lifan?s entry into the market is the availability of a good market. We believe that it will appeal to the young urban professionals and younger car enthusiasts, who comprise a large chunk of buyers in the local market,? said Agcaoili.

?On top of their good looks, Lifan cars are equipped by powerful engines designed by United Kingdom-based engineering designs firm Ricardo Plc, for that extra torque and speed. They are trendy and the prices are also very competitive,? he added. Elaine Ramos Alanguilan