First Chinese cars to hit U.S. shores
Malcolm Bricklin, the man behind the Yugo, to lead new import wave in 2007.
By Bill Vlasic / The Detroit News
Robin Buckson / The Detroit News
Malcolm Bricklin sealed the deal with Chinese automaker Chery in mid-December. "What I do best is import cars ... I'd like to look at it as being the next Toyota."
NEW YORK -- A newlyformed company led by auto entrepreneur Malcolm Bricklin and the investment banking firm Allen & Co. has signed the first-ever deal to import cars made in China for sale in the United States.
Bricklin, known best for bringing the ultra-cheap Yugo car to the U.S. market in the 1980s, is expected to announce the agreement today between New York-based Visionary Vehicles LLC and Chery Automobile Co., one of the fastest-growing players in the fledgling Chinese auto industry.
The deal to import up to 250,000 Chinese-made cars annually beginning in 2007 was finalized Dec. 16 at Chery's corporate headquarters in Anhui Province in eastern China, Bricklin told The Detroit News in an interview.
http://www.detnews.com/2005/autosinsider/0501/02/A01-47455.htmGM and Ford are on "borrowed time"...their healthcare costs (per car) alone will cost as much as one of these cars