Worldwide Motors Company Ltd (WMC) which imports cars made in China is on an expansion drive this year. It plans to set up an assembly plant in Prey Veng province as part of its expansion to promote more Chinese models in Cambodia.
As made-in-China cars are slowly gaining popularity in the Kingdom, the company opened its second showroom along Street 2004 (near CIA International School, Sieng Roleung) in Phnom Penh and also signed strategic cooperation pacts with China’s top car companies on May 24.
“We see good potential in this area [Street 2004] to promote our brand. Cambodian market is starting to grow and there are opportunities for Chinese cars to compete with Japanese and Korean cars."
“We are confident that in the next five years Chinese cars can be a leader in the Cambodian market. This a good opportunity for Chinese investors and even other investors to enter this market in the future,” WMC chief executive officer Peang Mann told The Post at the launching ceremony.
WMC, which has been operating in Cambodia for over 10 years, is the sole and exclusive importer and distributer of top brands such as the Great Wall and Haval, Hawtai A25, Kenbo S7, BISU T3 and BISU T5, Traum Seek 5, Huanghai, Kawei, Yema, Chery and Beijing Automobile Works Co., Ltd (BAW).
These Chinese makes come with exciting designs, strong performances, low gas consumption, security and they are built using advanced technologies – which is making the vehicles competitive with world-class brands from Japan or South Korea.
He said WMC is “enjoying tremendous support from both corporate and individual clients from all walks of life” and the company is lining up several product launches in the coming months.
“Our goal is to expand our business by bringing more famous brands in the future to grow the car industry in Cambodia, opening multiple affiliates and subsidiaries across the provinces and cities of the Kingdom of Cambodia in the following years."
“The company is working on the establishment of a big assembly plant in Prey Veng province and in other provinces in the future,” added Mann.
WMC considers Cambodia as a potential market for its marques, as stable economic growth over the decades and growing demand for new cars continue to propel the auto sector. Despite the influx of used cars, the market share for new cars is expected to surge.
“The market share for new cars will grow this year by at least 15 per cent from about 10 per cent,” he added.