At the 2015 Geneva International Motor Show currently taking place, Qoros announced a change in its global marketing policy. As part of the change, the company plans to begin exporting some of its models "to Central Europe and the Middle East" within 12-18 months. Qoros is a joint auto venture between Idan Ofer's Kenon Holdings Ltd (TASE:KEN: NYSE: KEN-WI), split off from Israel Corporation (TASE: ILCO), and China's Chery Corp.
The company did not state whether Israel was one of the Middle Eastern countries to which it planned to export. The company previously stated that its vehicles would not be exported to Israel in the foreseeable future, mainly because of production volume limitations. Auto sector sources today predicted that following the company's poorer than expected sales of only 7,000 units so far, it was likely to reconsider exporting to the region, and perhaps also to Israel, considered a relatively easy market for new brands, especially from the Far East.
Israel, however, is apparently not high in Qoros's priorities. The company said it would expand its exports "step by step," but at the current stage, the focus is on building awareness of its brand and establishing a far-reaching sales network in China.
At a press conference in Geneva, Qoros unveiled its new Qoros Over, based on the new Qoros 3 family car. At the same time, the company introduced former GM China CEO Phil Murtaugh, its new chairman appointed to the position a few months ago as part of the replacement of its management, to Western reporters for the first time. At the exhibition, Murtaugh said "Building a new brand from scratch is a huge task. We're the first auto manufacturer in China to meet standards of quality and performance equal to or better than those of leading global manufacturers. We're changing the way people think of a Chinese-made car."
Qoros said in response that it had nothing to add beyond its press release.