-- Chrysler Group will introduce a Chinese-made small car in the U.S. next year that retails for about half the price of its cheapest model, according to the Web site, .
The carmaker will begin selling Chery Automobile Co.'s A1 hatchback in the first quarter of 2008, Chery President Yin Tongyao said in Beijing. The 1.3-liter A1 costs from 53,800 yuan ($7,100) in China. Chrysler's least expensive U.S. model is the $13,850 Dodge Caliber, according to Edmunds.com. Yin didn't say how much the A1 would cost in the U.S.
Chrysler plans to sell current and future Chery models worldwide, according to the Bloomberg Web site. Chery may eventually build as many as 100,000 vehicles a year for Chrysler, Yin said without a providing a timeframe. The capacity can also be expanded in the future, he added.
The U.S. automaker aims to begin selling Chery-made vehicles under its Dodge brand in Latin America and Eastern Europe by the end of the year, Chrysler Chief Executive Officer Tom LaSorda said, according to Bloomberg.
The cheapest car listed on U.S. price comparison Web site cars.com is General Motor Corp.'s Chevrolet Aveo. The 2007 model costs between $9,995 and $13,925, according to GM's Web site.