Archive for the ‘Industry News’ Category

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GM will build new $1.1 billion plant in China

Published on February 13, 2012 by Tycho de Feijter

GM China

General Motors Co., the world’s biggest automaker, is poised to receive approval to build a 7 billion yuan ($1.1 billion) factory in China, according to a provincial government statement.

The plant, operated by GM’s passenger-car venture with SAIC Motor Corp., will have annual production capacity of 300,000 vehicles and be located in the central city of Wuhan, the Hubei Environmental Protection Bureau said on its website.

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Chery exports up 21% in January

Published on February 13, 2012 by Tycho de Feijter

Chery Chile

China’s carmaker Chery Automobile Co Thursday said its overseas shipments in the first month of the year rose 21.2 percent year-on-year to 11,823 units. The figure was also up 25.1 percent from last month, indicating strong overseas sales growth, said Jin Yibo, Chery’s spokesman.

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New Guangzhou-Mitsubishi joint venture starts in September

Published on February 10, 2012 by Tycho de Feijter

Mitsubishi China

Mitsubishi wants a bigger piece of the Chinese car pie. The brand already has two joint ventures in China: SouEast-Mitsubishi and Changfeng-Mitsubishi which was basically no more than a license-deal. Changfeng however was merged into Guangzhou Auto in 2009. Mitsubishi wasted no time and started talks with Guangzhou Auto which will be concluded in September when parties will announce the new Guangzhou-Mitsubishi joint venture.

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China car sales Down 16.5% in January

Published on February 9, 2012 by Tycho de Feijter

China Car Sales

China’s passenger vehicle sales declined 16.5 percent year-on-year to 1.17 million units in January, thanks partly to the New Year and Spring Festival holidays, according to the China Passenger Car Association.

The 1.17 million units include cars, sport-utility vehicles, multi-purpose vehicles and minivans. It is the first time in years that all the vehicle segments have seen negative growth, the association said on Tuesday.

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Maserati to recall 222 cars in China

Published on February 9, 2012 by Tycho de Feijter

Maserati China

Italian luxury car-maker Maserati will recall 222 vehicles imported to the Chinese mainland due to defective rear lamps, China’s quality watchdog said Wednesday.

The recall, which began Wednesday, includes the GranTurismo, the GranTurismo S and GT GranCabrio models produced between June 6, 2008, and April 29, 2010, the General Administration of Quality Supervision, Inspection and Quarantine said in a statement.

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Nissan China Sales up 21.9% in 2011

Published on February 8, 2012 by Tycho de Feijter

Nissan China

Nissan China sold 1.24 million Nissan and Infiniti vehicles in China in 2011, a 21.9% increase from the previous year. Although Nissan is a relative new comer in China, it managed to accelerate its expansion with partner Dongfeng Motor.

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GM China Sales Down 8% In January

Published on February 8, 2012 by Tycho de Feijter

GM China sales

Automaker General Motors Co. on Tuesday said sales in China in January slipped 8 percent from last year, but improved 25.3 percent sequentially, amid three fewer shopping days due to the Lunar New Year Holiday.

The automaker and its joint ventures sold 246,654 vehicles in the month. Sales of GM’s lineup of passenger cars totaled 124,073 units, while SAIC-GM-Wuling’s mini-vehicles and passenger cars sold 119,948 units. FAW-GM, GM’s light-duty commercial vehicle joint venture, sold 2,433 vehicles during the month in China.

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SAIC auto sales down 8.48% in January

Published on February 8, 2012 by Tycho de Feijter

SAIC China

Top Chinese automaker SAIC Motor Corp reported its first monthly sales decline in six months in January as automakers and dealerships closed shop for the week-long Lunar New Year holiday.

SAIC, which makes cars in partnership with General Motors and Volkswagen, delivered 380,305 vehicles in the month, down 8.48 percent from a year earlier, it said in a filing with the Shanghai stock exchange on Tuesday.

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China to raise gasoline, diesel prices

Published on February 8, 2012 by Tycho de Feijter

China to raise gasoline, diesel prices

China will raise the retail prices for gasoline and diesel by 300 yuan ($47.53) per tonne starting February 8, the country’s top economic planner said on Tuesday.

The benchmark retail price of gasoline will be lifted by 0.22 yuan per liter and diesel by 0.26 yuan per liter, according to the National Development and Reform Commission (NDRC).

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Volkswagen China forms new investment company

Published on February 7, 2012 by Tycho de Feijter

Volkswagen China investment company

German automaker Volkswagen is preparing to expand financial services in China to tap new business opportunities in after-sales services, car rentals and electric vehicles.

Its wholly owned subsidiary, Volkswagen Financial Services AG, recently founded an investment company in Beijing after receiving the required government approval.

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