The Chinese company Qoros will reportedly soon temporarily abandon its European market offensive.
The producer has managed to sell around 7,000 vehicles worldwide in 2014 with only 51 of them being bought by European customers. The brand will now focus on its domestic market and will re-consider its European invasion in the coming years.
Qoros’ new CEO, Phil Murtaugh, commented for wiwo.de that “we will not fully give up on Europe” because “the European market is very, very important.” He also said that doubling last year’s sales won’t be enough for a sustainable growth.
In its first year of production the company, owned by Chery and Kenon Holdings, registered a loss of 305M EUR (339.3M USD).