NAC Makes Progress On "Project MG"

SHANGHAI - September 24, 2007:

Nanjing MG is moving forward with its plans to re-introduce the internationally renowned MG brand to car enthusiasts – first in China and then in the UK.

Across China, 41 dealer launches are underway – with every one of the newly appointed Nanjing MG dealers holding their own events to mark the launch of both the brand and the new model. In China, that means the MG7, a revised and updated version of the model previously sold in the UK as the MG ZT.

Even before the current launch events – and the announcement of specifications and prices – Nanjing MG has received more than 7,500 notices of intention to place orders for MG7 from Chinese customers, with over 1,250 of these being backed by advance deposits.

The MG7 is a sophisticated and up-market sporty saloon which brings British style to the Chinese automotive market for the first time. The MG7 will ultimately be sold in the UK and other European markets.

In China, Nanjing MG is launching four versions of the MG7 – Comfortable, Luxury and Sporty (all using the 1.8T engine) and the flagship MG7L 2.5V6. Prices range from just over £12,600 to £22,260.

Mr. Yang Junhu, General Manager of MG Commercial Company, said: “Due to their tradition of high quality and high performance, British cars have previously had a high price in China, putting them beyond the reach of many consumers. Now, MG is producing such cars with a highly competitive cost advantage, making such performance and luxury fully affordable”.

Nanjing MG’s Chinese 4S dealer network is still expanding, with a further 60 or so locations yet to be chosen to provide full nationwide coverage across the vast country. In China, dealerships are referred to as ‘4S’ outlets – standing for Sales, Service, Spares and Survey (the latter referring to customer feedback).

Many of the new MG locations are built in the distinctive MG octagon design, and are modeled on an iconic building at Longbridge in the UK, the generic home of the MG brand.

The launch of the MG marque in China, the first truly international brand to be owned by a Chinese manufacturer, has created tremendous excitement. A raft of celebrities have queued up to be the owners of the first cars on the road to bear the MG badge. The very first model was driven away from the showroom in the city of Nanjing itself (three hours north of Shanghai) by one of the country’s best known – and tallest – athletes, a 2m high basketball player.

Nanjing is home to Nanjing MG’s worldwide headquarters and also to its brand new factory complex which houses vehicle assembly and engine building factories equipped with plant and technology acquired from the former MG Rover site in the UK.

Later this year, Nanjing MG will be launching the classic British sports car, the MG TF open-top two-seater, in both the Chinese and UK markets.

Full specification, pricing and detailed plans for the launch of the MG TF in the UK – which is to be built at the reborn plant in Longbridge near Birmingham – are expected to be announced shortly.

For more information about the burgeoning auto industry in China please visit http://www.gasgoo.com/Autobiz/list/7/China-News.html