Thursday, November 12, 2009

Israeli co gets OK to sell Chinese cars in Romania

Shlomo Sixt will be the first Chery importer in Europe.

Dubi Ben-Gedalyahu11 Nov


S. Shlomo Holdings Ltd. (TASE:SHLD) subsidiary Shlomo Sixt Ltd. has obtained a go-ahead to import and market Chinese Chery International Ltd. cars in Romania. The permit was granted six months after Shlomo Sixt obtained the franchise, and after Chery completed compliance EU4 emissions standards procedures for vehicles in Romania.

EU4 standards will be valid in Romania for the next two years, during which time Chery is due to present a line of cars that comply with the stricter EU5 emissions standards.

Shlomo Sixt has become the first Chery importer in Europe, marketing the cars in a member country of the EU. It will market the Chery A5 sedan and Tiggo compact SUV.

In Israel, Chery missed the deadline to obtain a grace period to market EU4-compliant cars by two months. Marketing of Chery cars will therefore be delayed at least until mid-2010, when it will launch EU5-compliant cars.

Published by Globes [online], Israel business news - www.globes-online.com - on November 11, 2009

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