Sales of new commercial and passenger vehicles in China shrank in the first quarter as slowing economic growth chipped away at demand, adding to concerns about the full-year sales outlook in the world’s largest auto market.
In the first quarter, total vehicle sales in China fell 3.4% from a year earlier to 4.79 million vehicles, the China Association of Automobile Manufacturers said Wednesday. Sales of passenger cars fell 1.3% to 3.77 million vehicles.
General Motors Co. will begin to build Cadillacs in China within a year as the automaker works to establish the luxury Cadillac brand globally, according to Joel Ewanick, GM’s global marketing officer. GM is expected to announce April 22 during the Beijing auto show that it will begin to build its all-new large Cadillac sedan, the XTS, later this year in China, according to another source familiar with the company’s plan.
Skoda Auto, a Czech brand German auto giant Volkswagen, said on Thursday that first-quarter sales rose by 11.8 percent from the level at the same time last year to a record of 242,700 cars, with a boost from China and India.
The car maker said in a statement it had set another all-time high in March when it raised monthly sales by 12.1 percent on a 12-month basis to a record 95,200 units.
Citroen wants to expand aggressively on the China car market, and they want to do so with the DS-range. The attack starts with the DS5 which will be listed as an import on the Chinese car market sometime around the middle of this year. Second car to come is the DS3 and third the DS4, both will be listed as imports near the end of this year. Read more »
General Motors will recall 6,365 imported Buick Enclave cars due to their weak windshield wipers, China’s top quality watchdog said on Monday. The cars in question were produced between Jan. 17, 2010 and March 5, 2012, according to a statement released by the General Administration of Quality Supervision, Inspection and Quarantine.
Due to high demand on the Chinese market, the next-generations Volkswagen Phaeton will debut sometime in 2015. On the market for 10 years, the Phaeton largely missed sales targets year after year, prompting the model to be cancelled in the U.S. after 2006. However the Phaeton has enjoyed a 50 percent increase in deliveries in China in the past year.
Swedish carmaker Volvo, owned by China’s Zhejiang Geely Holding Group Co Ltd, plans to spend $11 billion on developing new products and boosting its manufacturing footprint in the next few years, a company spokesman said on Thursday.
Earlier in the day, German magazine Wirtschaftswoche said Geely would invest the money, but spokesman Per-Ake Froberg said that funding would come from Volvo itself and include financing from cash flow and borrowing. “It is not Geely investing $11 billion,” he said.
Carmaker Chery Automobile Co plans to build a complete supply chain in Brazil as it prepares to make cars in the South American country in 2013. In-country component manufacturing will help Chery avoid the high taxes levied on imported cars and assembled vehicles with little local content.
Brilliance Automotive, BMW’s Chinese partner, reported full-year profit rose 43 percent after demand for luxury vehicles outpaced deliveries in the country’s overall automobile market. Brilliance also has a minibus joint venture with Toyota, and they sell their own cars under the ‘Brilliance‘-brand.
Brilliance’s net income rose to 1.81 billion yuan ($285 million) last year, the company said in a statement to the Hong Kong stock exchange on Friday. That matched the 1.81 billion yuan average of 14 analyst estimates compiled by Bloomberg. Sales fell 28 percent to 6.44 billion yuan.