Archive for the ‘Industry News’ Category
BYD profits down 94.12% in 2012
Published on March 26, 2013 by Joey Wang
Chinese car and battery maker BYD announced Monday that its 2012 profits tumbled 94.12 percent year-on-year amid a bleak solar market, but forecast robust profits for the first quarter of 2013.
The Shenzhen-based company specializing in electric vehicles, rechargeable batteries and photovoltaic (PV) cells reaped 81.38 million yuan ($13 million) in net profits in 2012, down 94.12 percent year-on-year, according to its annual report filed with the Shenzhen Stock Exchange.
Geely confirms it will not Bid for Fisker
Published on March 26, 2013 by Joey Wang
China’s Zhejiang Geely Holding Group has confirmed it will not make a final bid for a stake in Fisker Automotive Inc as it is not in line with its strategic considerations.
Record $14.480 for a license plate in Shanghai, China
Published on March 25, 2013 by Joey Wang
The cost of a car license plate hit a record high at an auction in Shanghai on Saturday, skyrocketing to more than 90,000 yuan ($14,480), despite municipal government efforts at regulating the market.
The Shanghai government said that the price of a secondhand car plate should not exceed the auction price of new car plates, nine days before March’s car plate auction on Saturday, blaming the rising price of secondhand plates for pushing up the new prices.
More buses in Beijing to offer WiFi
Published on March 25, 2013 by Joey Wang
More than 10,000 buses in Beijing will offer WiFi service by the end of 2013, Beijing Morning Post reported Friday.
The service followed a deal signed in April last year between China Mobile and Beijing Bus Transportation Group, which operates Beijing’s bus system and will provide coverage on all routes within the Fourth Ring Road.
Great Wall Motors’ sales up 28% in 2012
Published on March 25, 2013 by Joey Wang
Great Wall Motors, a private Chinese automaker, sold about 620,000 cars in 2012, up 28.3 percent year-on-year, it said on Thursday. The company sold 280,000 sports utility vehicles, an increase of 90 percent year-on-year, and 200,000 sedans, up 6.27 percent year-on-year.
Geely profits up 32% over 2012
Published on March 22, 2013 by Joey Wang
Geely Automobile Holdings Ltd, the publicly traded unit of China’s biggest private automaker, has reported a strong sales performance for 2012, thanks to a doubling in exports.
The company’s net profits climbed 32 percent to 2.04 billion yuan ($328 million), compared to 1.54 billion yuan in 2011. Total revenue rose 17 percent to 24.6 billion yuan. It more than doubled its exports during the year, compared with a decline in local sales.
Volkswagen to Recall all DSG-equipped Cars in China
Published on March 20, 2013 by Joey Wang
Volkswagen has agreed to recall 384,181 vehicles with defective gearboxes in China, the country’s quality watchdog said on Wednesday. Yesterday, Volkswagen announced a recall for all Skoda’s equipped with a DSG transmission.
The General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) announced in an online statement that Volkswagen has filed the recall plan with the administration, after repeated pressing from consumers and media.
Chinese media says steel fuel tanks in Hyundai cars are unsafe
Published on March 19, 2013 by Joey Wang
China Business News (article in Chinese) has found that certain car models from a Hyundai 4S dealership in Beijing are equipped with steel fuel tanks, instead of plastic ones, the mainstay for light vehicles. A manager from the Beijing Hyundai 4S dealership confirmed that the Hyundai Tucson and Hyundai ix35 are equipped with steel fuel tanks.
Skoda recalls DSG-equipped cars in China
Published on March 19, 2013 by Joey Wang
The Shanghai-Volkswagen joint venture will recall DSG-equipped Skoda cars after being ‘urged’ to do so by China’s General Administration of Quality Supervision, Inspection and Quarantine.
Skoda has released a recall notice on its website on March 16 concerning Octavia 1.4TSI, Octavia1.8TSI and Superb 1.4TSI models. It is the first recall announcement for the seven-speed DSG-equipped cars.
New Volvo factory in China to start operations in June
Published on March 19, 2013 by Joey Wang
Volvo Car’s new manufacturing plant will begin production in June in Chengdu, capital of Sichuan province in Southwest China, China Business News reported Monday citing sources within the industry. The first model to be made in the factory is the new S60L, a stretched variant of the Volvo S60, which is set to roll off the assembly line in large-scale production by October.
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