Worldwide Motors Company (WMC) Cambodia, an exclusive importer and distributor of a wide range of Chinese automotive brands, launched its second showroom in the country on Friday.
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The new showroom, located in Phnom Penh’s Sen Sok district, is part of the company’s expansion strategy in the country, which also includes a third showroom in Tuol Pongro commune planned for the near future, according to the company’s chief.
WMC CEO Peang Man said that after a decade operating in the Kingdom, the company continues to enjoy robust growth, which, he said, has been facilitated by the presence of a large number of Chinese investors in the country.
“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 in the following years,” he said.
Mr Man said one of the main challenges in the business is strong competition, but added his company has a strategy in place to deal with it.
“We have our own strategy to address this, with a plan in the future to establish a large-scale assembling plant in Prey Veng province. We will import car accessories from China and assemble the cars at the plant,” he said, adding that the factory will make the company more competitive by cutting import costs.
He said his company has so far teamed up with about ten Chinese manufacturers, establishing WMC as the exclusive importer and distributor of brands like Great Wall, Haval, Hawtai, and Kenbo. He said they are all top brands, comparable in terms of quality to those from Japan, Korea, Germany, and the United States.
WMC’s cars range from $20,000 to $70,000 and come with a five-year warranty on accessories and technical problems, Mr Man said.
The company is now looking to enter partnerships with ten additional Chinese automakers to give customers access to a larger offer.
Cambodia imports about 6,000 used and new cars each month, with new cars accounting for about 15 percent of total imports, according to Kun Nhem, director-general of the General Department of Customs and Excise (GDCE).
Mr Nhem previously told Khmer Times that the government is considering hiking up taxes on imports of used cars to encourage people to purchase new models. He said this will help the new car market thrive, protect the environment and make roads safer.
The government has also announced plans to standardise automobile imports, particularly second-hand, to ensure quality and safety for the end-user and make the industry compliant with international regulation.