SAIC's own-brand "Rover" expected soon

Car dealers expect Shanghai Automotive Industry Corp's (SAIC) first own-brand vehicle to go on sale within two weeks, the South China Morning Post reported. The Roewe 750, based on the Rover 25 and Rover 75 designs bought from now the now defunct UK automaker for US$131 million in 2004, is likely to cost between US$29,500 and US$41,000. It is targeted at the middle segment of the Chinese market and is also intended to spearhead SAIC's plans to push into export markets. Annual production of the Roewe 750 will start at 50,000 units but this may rise as the company wants to introduce 30 own-brand cars in the next five years. Rival carmakers Geely Holding Group and Chery Automobile also make own-brand vehicles but these are targeted at the low end of the market.