The Zhejiang-based automaker Zotye Holding Group Co launched its new Zotye 5008 model and also unveiled its new model logo at the ongoing Chengdu auto show, auto.sina.com said yesterday.

The auto show held in earthquake-stricken Chengdu after Beijing Olympics has drawn wide attention. On September 19, Zotye rolled out its new Zotye 5008 model at Chengdu auto show. Priced at between 55,900 yuan ($8184) and 64,900 yuan, the Zotye 5008 is available in four versions with a choice of 1.3L and 1.5L. Zotye sales director Ying Yijun announced the retail prices of Zotye 5008 models as follows:

1.3L Zotye 5008 standard        55900 yuan
1.3L Zotye 5008 fashion           58900 yuan
1.5L Zotye 5008 standard        61900 yuan
1.5L Zotye 5008 fashion           64900 yuan

The automaker also unveiled its new logo at the auto show. Highlighting a big letter "Z" in the new logo, Zotye aims to launch its global brand strategy.

Industry insiders generally believed that Zotye 5008, with such a high price-performance ratio, is likely to pose a big threat to other models at the same price level, and even challenge joint-venture-made sedans at 100,000 yuan below.