[Update] U.S. sales of China's Geely to start in 2008

[Sticker price updated. Geely USA corrected news reports Thursday, saying that the launch price would be in the neighborhood of $10,000, not the $7,500 originally reported]

Here they come, ready or not! Geely USA's chief operating officer John Harmer announced Wednesday that the Chinese automaker plans to start selling cars in the U.S. by the Fall of 2008.

Harmer is targeting a bargain basement $10,000 sticker price for a "basic, fuctional auto" - albeit with power windows, air conditioning and a CD player. Geely's low-key debut at this year's Detroit Auto Show was somewhat underwhelming, but that sticker price could go a long way towards winning over customers.

The company plans to sign up existing dealers to carry its products, although the company website states that they are not currently accepting dealership applications.

[Source: Automotive News]