China became Ferrari’s second-largest market worldwide in 2010 and the Italians want more. Ferrari is therefore expanding its Chinese dealer network. Traditionally the big money was on the east coast but nowadays there are also many potential Ferrari buyers in the rich cities of the west and southwest.
Audi set a new record on the Chinese market in February. With a total of 31,352 vehicles delivered in China and Hong Kong, the company increased sales by 66 percent over February 2011. This marks the first time that Audi has topped the 30,000 unit mark in one month. The brand also confirmed its position as the premium-segment market leader in China.
General Motors said Tuesday it sold 240,554 vehicles in China in February, a record for the month and up 31 percent on the year, despite an overall slowdown in the Chinese market. The number of cars and trucks that GM sold was also the third highest number for any month in the company’s history in China, according to the statement.
Chinese carmaker Chery Automobile Co on Tuesday said its overseas shipments jumped 56.7 percent year-on-year to 11,035 units last month. More than half of the exported cars were manufactured in Chery’s overseas production centers, indicating strong overseas output capacity, said Jin Yibo, a company spokesman.
China will control the increase in auto manufacturing capacity and encourage mergers and reorganizations in the industry, according to a work report that Premier Wen Jiabao delivered at the nation’s legislature.
The government will promote new-energy vehicles and encourage the scrapping of old vehicles to reduce pollution, according to a separate report today by the National Development and Reform Commission, the country’s top economic planner.
Jaguar Land Rover and Chery Automobile Co are seeking regulatory approval for a 17.5 billion yuan ($2.78 billion) car venture in eastern China, two people with direct knowledge of the deal told Reuters on Monday.
The deal marks Jaguar Land Rover’s latest effort to expand its appeal in the world’s largest auto market where luxury sedans and SUVs remain in hot demand even as the overall car market cools.
At a press conference surrounding the launch of the China-made BMW X1 Mr. Olaf Kastner, president and CEO of Brilliance-BMW, also said that the joint venture would launch a new sub-brand within this year. The sub-brand will focus on new energy vehicles. Read more »
Toyota aims to sell as many as 1.8 million cars annually in China in 2015, more than doubling its 2011 level. The top Japanese automaker has set a target to sell 1 million cars in the country in 2012, up 13.3 per cent from the 2011 level, it said in a statement.
Geely’s Chairman Li Shufu said he “enthusiastically” supports the Chinese government’s plan to limit its car purchases to only domestic brands. At the same time, Li said he hoped the opportunity that this policy provides won’t stop Chinese carmakers from working to improve the quality of their vehicles.