DETROIT -- Chinese automaker Guangzhou Automobile Group will postpone its planned 2019 entry into the U.S. market to the first half of 2020, the automaker said on Jan. 14.
Yu Jun, general manager of Guangzhou Automobile Group Motor, told reporters at the North American International Auto Show 2019 in Detroit that he feels the impact of the U.S.-China trade dispute, hinting that tensions between the two countries are hindering the automaker's business.
The automaker has established a research and development center as well as a sales company in the U.S., with plans to release a new sedan -- showcased at the Detroit motor show a year ago -- by the end of this year.
Yu did not provide details of why the company is delaying entry into the U.S., but said he believes its products are being favorably received by U.S. consumers and that the company will move forward with its plan.
He also said the company aims to establish itself as a global brand, starting with a presence in the U.S., the world's second-largest auto market after China, then expand into other regions, including the Middle East and Russia.