Bangkok--7 Jul--Media Plus Connection
The Tan Chong Group, today signed a memorandum of understanding (MOU) with Fuji Heavy Industries Ltd. (FHI) for the local assembly of Subaru vehicles in Malaysia.
The agreement leverages on Tan Chong's existing assembly facilities for the production of Subaru compact SUVs for marketing and distribution in Malaysia, Thailand and Indonesia. Under the MOU, production will begin in October 2012 with a capacity of 5,000 units a year. These compact SUVs are based on the Subaru XV concept, blending exceptional SUV practicality with a fashionable form.
Driving Subaru's success in the region is Motor Image, a wholly owned subsidiary of Tan Chong. This new development is part of Motor Image Group's growth strategy which identifies ASEAN as a the key engine of the company’s future growth. Subaru today enjoys strong demand for its ‘All Wheel Drive’ vehicles, throughout the region, particularly in the ASEAN markets with over 2,300 units sold in 2010.
Motor Image expects to increase revenues by over 10 fold within the first year of introducing the XV concept model in the three markets under this MOU.
Key to the company's growth, is also in driving strategic expansion for its sales and distribution network in the region. Over the next two years, the Group aims to expand its sales network by 10 times adding 60 new outlets in Malaysia, Indonesia and Thailand. Currently, the company has a network of 76 sales and distribution outlets across 10 markets.
Mr. Glenn Tan, Executive Director of TCIL and Group Chief Executive of Motor Image Group says, “We believe that this development will enhance our growth in the ASEAN region. The steady growth of consumer purchasing power in the region opens extremely positive perspectives and market potential for Subaru. We continue to be focused on delivering superior quality vehicles and a consistently high level of service to customers.”
"The agreement will allow us to rapidly scale up on Motor Image's presence in the region through making investments in our network and building long-term relationships," adds Glenn.
The Group will execute its growth strategy rapidly with:
? Three sales and distribution outlets in Indonesia as of July 2011 with 20 more planned through 2013.
? One sales and distribution outlets in Thailand as of July 2011 with 22 more planned through 2013.
? Two sales and distribution outlets in Malaysia as of July 2011 with 18 more planned through 2013.
Motor Image introduced Subaru in Singapore more than 20 years ago in 1987. The company has since set up offices in Southern China, Hong Kong, Indonesia, Malaysia, Philippines, Taiwan, Thailand, Cambodia, and Vietnam, with the aim of letting more people in the region discover and enjoy the difference of driving a Subaru.
With the All-Wheel Drive (AWD) market becoming more popular in Asia, Motor Image anticipates that consumers would come to expect the AWD technology in every seamless driving experience. Motor Image continues to satisfy the growing number of Subaru enthusiasts by bringing in the latest models while delivering a consistent high level of service to give drivers total confidence.
For more information about Motor Image Group and its range of products, please visit www.motorimage.net
For further information please contact:
Ms. Hanna Tan
Regional Marketing Manager, Motor Image Enterprises Pte Ltd Tel. +65 6417 0333 DID: +65 6417 0211
Fax: +65 6479 3811 Email:
[email protected]
Ms. Priyatida Samatha (Euay)
Communication Director
Media Plus Connection on Behalf of Motor Image Subaru (Thailand) Co.,Ltd.
Tel. +662 619 1108 Fax: +662 619 1109 E-Mail:
[email protected]
สอบถามข้อมูลเพิ่มเติม โทร. +662 619 1108 Media Plus Connection