As of October this year, Zhuhai Gree Electric Appliance Co., Ltd. Latin American market exports and the same level last year.
Gree revealed that Gree products have covered the entire Latin America, annual sales of products up to 200 million units, the export amount up to 400 million US dollars, in Argentina and Mexico, Gree's market share can account for 30% of this year Sales also accounted for the higher Argentina, Mexico and Brazil.
Gree's total operating revenue in 2016 was 110.113 billion yuan, of which export revenue was 16.2 billion yuan. Latin America was a plowing overseas market for Gree.
Gree Electric's first overseas production base is not set up in Asia, nor is it set up in Europe and Asia connected with the land, nor set up in Japan and across the sea with China, but across the ocean, located in Latin America, Brazil. The Brazilian production base was put into construction in 1999 and put into operation in 2001.
Historically, trade between China and Latin America started relatively late due to geographical barriers and cultural differences. In 2000, China-Latin America trade volume topped 10 billion U.S. dollars for the first time. Gree was the earlier Open up the Latin American market, one of the appliance business.After more than 10 years of development, Gree appliances in Latin America market has considerable visibility.
Wu Bin, general manager of Gree Overseas Sales Company introduced to reporters, for Gree, the development of Latin American market, the biggest challenge is not the friction between international trade, but the market is not stable.
Trade frictions are currently rare in Latin America, but Latin American policies or standards will often change, and the transparency is not high, the need to pay close attention to and take measures to deal with, otherwise it will bring losses. 'Gree Electric introduced in response to Asymmetric information, although the Gree distributor in the basic mode of sales in Latin America, Gree sent from the past the number of marketing team in China is not much, but for the weak market, will be stationed for a long time to stay, pay attention to market dynamics.
Wu Bin believes that many countries are interested in the Latin American market. However, as the process of integration in Latin America needs to be improved and market access standards are different, for enterprises, the initial investment is relatively high, and large-scale market entry will take a long time .