Subaru Enhances Sales Structure in China
- Subaru to Form JV with Pangda to Achieve Annual Sales Goal of 100,000 in FY2016 -
Tokyo, January 18, 2013 - Fuji Heavy Industries Ltd. (FHI), the maker of Subaru automobiles, today announced that it has entered into a joint venture agreement with China's auto distributor Pangda Automobile Trade Co. , Ltd. (Pangda). Subaru of China, Ltd. (SOC), presently a wholly-owned subsidiary of FHI, will become a JV sales company with Pangda. Through this initiative, FHI aims to strengthen its sales structure and engagement in the local sales activities.
Subaru made a full-scale entry into the Chinese market in 2004 and SOC was established in 2006. While its sales were 48,000 units in FY2012 (Apr 2011 - Mar 2012), Subaru targets to double its annual sales to 100,000 units by the end of FY2016, the final year of FHI's mid-term business plan "Motion-V". With the strengthened function and workforce of SOC as well as Pangda's expertise on the market, Subaru will reinforce its efforts to expand sales and enhance the Subaru brand by focusing on sales and service performance improvements, effective implementation of sales boosting measures and strategic dealer development.
Under its brand statement "Confidence in Motion", FHI is committed to offering its customers "Enjoyment and Peace of Mind" throughout its business activities from product design, development, manufacture, sales to aftersales service. With the strengthened business structure, FHI will further enhance its sales and aftersales performance to provide its Chinese customers with Subaru's distinctive "Enjoyment and Peace of Mind" driving experience.
< Subaru of China, Ltd. >
| After | Before | |
|---|---|---|
| Name | SUBARU OF CHINA, LTD. | |
| Headquarters | Beijing, China | |
| Company Form | Joint Venture between FHI and Pangda | FHI's wholly-owned subsidiary |
| Capital | 2.95 billion yen | 600 million yen |
| Ownership | FHI 60%, Pangda 40% | FHI 100% |
| Primary Business | Wholesale / retail sales of Subaru brand vehicles, parts and accessories | |
<Pangda Automobile Trade Co. , Ltd.>
| Name | PANGDA AUTOMOBILE TRADE CO. , LTD. |
| Headquarters | Tangshan City, Hebei Province, China |
| Representative | Pang Qing Hua |
| Established | 2003 |
| Capital | 2.62 billion yuan (approx. 37.7 billion yen) |
| Primary Business | Automobile distribution (Vehicle sales, Parts manufacture), Real estate development |
| Remarks | Pangda is the parent company of "Zhongji Subaru (Beijing) Vehicle Sales Co. , Ltd.", Subaru's current distributor of North China region. Pangda runs dealerships of a number of Chinese and world's auto brands. |