Chaoyue light truck

The new "Chaoyue" - which means "surpassing" - light-duty truck made by Nanjing Iveco went on sale globally on January 8 priced between 96,800 yuan (about $15,500) and 118,000 yuan.

Jointly developed by Iveco of Italy and SAIC Group - the parent of Nanjing Iveco - the Chaoyue meets European standards for light trucks and uses 5 to 7 percent less fuel than counterparts in China, said the company.