Dongfeng Peugeot Citroen Automobile Company (DPCA), a joint venture of French carmaker PSA and Chinese automaker Dongfeng Motor Corporation, is expected to build a fourth factory in China. Construction will start later this year and the first car is scheduled to roll off the line late in 2016.
Profits of Chinese carmaker BYD decreased 15.5 percent year-on-year to 361 million yuan ($58.7 million) in the first half of this year. The profit fall was “mainly due to the decrease in the traditional automobile business”, the Shenzhen-based carmaker said in a statement.
China’s e-commerce giant Alibaba Group (web) has signed an agreement with China Grand Auto Services Co Ltd. (web), the country’s largest passenger vehicle dealer, to set up an online trading platform for secondhand cars. The move will basically create a Chinese version of eBay Motors and has the potential to serious shake up China’s secondhand car market, and to add serious money to Alibaba’s coffers.
China’s Dongfeng Motor Corporationhas issued an official statement saying it never had any contact with NEVS Saab or with its shareholders concerning a possible take-over or an investment. On August 21 Economic-news magazine China Securities News published an article citing unnamed sources saying such contact had been established earlier this month.
The Beijing AutoSenova brand is working on five new cars for the Chinese car market, all will have been launched by 2016. First up is the Senova D60, the final production version will debut on the Chengdu Auto Show in September.
The Chinese government is investigating major car makers on accusations of price fixing and breaking anti-monopoly laws. In a new development the local Chinese governments are going after the embattled car makers too.
Mercedes-Benz has been reportedly found guilty of vertical price fixing of car parts by an anti-monopoly investigation launched by the Jiangsu Province Price Bureau.
Dongfeng’sFengshen brand is going in full attack mode with four new cars coming to the Chinese auto market until 2017. First up is an electric variant of the Fengshen S30 sedan, pictured above. The vehicle has been under development since 2012 and will finally launch early next year. The S30 EV will be powered by a 120hp electric motor, good for a 130km/h top speed and a 150 kilometer range. There is more:
Shanghai GM, General Motors’ main China joint venture has been contacted by Chinese anti-monopoly regulators as part of an investigation of the industry. GM’s announcement follows government announcements that Audi and Chrysler will face unspecified penalties for violating the country’s anti-monopoly law. Mercedes Benz, Toyota’s Lexus luxury brand and Japanese parts suppliers also are under scrutiny.
Ford and its Chinese joint ventures sold 90,775 vehicles in China in July, up 25 percent from a year earlier, far outpacing industry growth of 6.7 percent for the same month in the world’s biggest auto market. That follows a 17 percent year-on-year rise in June and a 32 percent increase in May.