Prices of new license plates in Shanghai hit record high in March as enthusiasm for private-car ownership continued to grow despite government controls on new vehicle registration.
Shanghai is the only Chinese city to use an auction to control plate supply. In the monthly auction that ended this weekend, the average bid for a license plate was 58,625 yuan (9,380 U.S. dollars), up 5.37 percent from the February average, government data showed.
Geely will start sales of its Emgrand EC7 compact car at the end of 2012 through a new distribution company called Geely Auto UK. Manganese Bronze Holdings, which partners Geely in building London black cabs in England and China, will set up the distribution company and a UK dealer network.
China’s quality watchdog said it is in contact with auto giant Volkswagen (China) after many customers complained about defects in the direct-shift gearbox (DSG) of the company’s vehicles.
The General Administration of Quality Supervision, Inspection and Quarantine said in a statement on its website that it had received complaints about unusual noises, vibrations and transmission problems in the DSG of Volkswagen vehicles.
The Chinese capital is likely to adopt new vehicle emission permits which could be as strict as those in Europe, in response to concerns over the city’s air pollution.
The Beijing Municipal Environmental Protection Bureau has released a draft of new standard which specifies strict limits for a variety of vehicle emissions, including carbon monoxide, hydrocarbons, nitric oxide and particulate matter.
Jeremy Lin, the New York Knicks basketball player who surged in popularity this year, is in talks on an endorsement deal with Volvo Cars, three people familiar with the matter said.
The symbolism of such a deal would be rich. Volvo is now owned by China’s Zhejiang Geely Holding Group Corporation. The company is trying to boost Volvo sales in China as part of a strategy to double the brand’s global sales to 800,000 vehicles by 2020. Geely plans to invest up to $11 billion in the effort.
The first Chinese car that you buy may actually be American. California startup automaker Coda Automotive began production of its all-electric sedan on Monday at a facility in Benicia, outside of San Francisco. The battery-powered four-door is assembled from a glider” — basically a complete car without a drivetrain — that’s built by Coda in China under license from local automaker ChangAn Hafei.
In February 2012, Toyota and its two local joint venture partners managed to sell in China about 66,800 vehicles, up 51.3%.
In January and February the sales totaled about 125,500 units, up 1.5% from last year. Although sales were quite weak in January, the Lunar New Year holiday from the end of the month brought a surge in the February sales. In January this year the company sold about 58,700 units, down 26.2% compared to the same period last year.