SHANGHAI -- Chery Automobile, Chinas largest independent automaker, had a tough time in 2008.
Sales dropped 6 percent in 2008 and cash flow nearly dried up.
Now, bailed out by state-owned banks, the company plans a comeback with 15 new and redesigned models in 2009.
Thats an ill-conceived plan. Chery needs a stronger brand, not more new models.
Last week was the Chinese New Year holiday. I left Shanghai to see my parents in Zhenjiang, a third-tier city in east Chinas Jiangsu province.
At home, I was surprised to see more Chevrolet Spark small cars than its looklike, the Chery QQ.
The Spark is built by General Motors joint venture, SAIC-GM-Wuling Automobile, in south Chinas Guangxi region.