sales numbers, new factories, mergers, take overs, government regulations, laws

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General Motors to recall 18.204 cars in China

March 11, 2012 by Joey Wang

General Motors will recall 18.204 imported vehicles in China because of problems with the cars’ anti-lock braking systems, China’s quality control agency said in a statement dated Wednesday.

The immediate recall applies to 16.618 Chevrolet Captiva sport utility vehicles and 1586 Opel Antara sport utility vehicles built between April 11, 2006 and Nov. 9, 2009, the General Administration of Quality Supervision, Inspection and Quarantine said on its website.

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BMW posts Record Sales, thanks to China

March 10, 2012 by Joey Wang

BMW China

German carmaker BMW says it has seen record profit margins in its core car business for 2011. Its profits jumped by 51% last year to 4.9bn euros ($6.43bn; £4.1bn) compared with 3.24bn euros from the year before. Sales rose 14% to 68.82bn euros. Boss Norbert Reithofer said BMW’s new records in “sales, revenue and profit” had “more than reached our goals”.

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China car sales up 26.5% in February

March 10, 2012 by Joey Wang

China car sales

February car sales in China rose 26.5 percent from a year earlier, rebounding strongly from a slump in the previous month as automakers and dealerships resumed normal operations after the lunar new year holidays.

However, sales in the first two months still slipped 4.4 percent from the year-ago-level, reflecting the impact of the holidays that sometimes fall in January and sometimes in February. Industry observers typically look at the two-month combined figure to gauge the state of the industry.

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China auto sales fall in the first two months of 2012

March 10, 2012 by Joey Wang

China car sales

China’s vehicle sales weakened further in the first two months of this year as the economy slowed and higher fuel prices deterred some buyers. The China Association of Automobile Manufacturers said Friday that car sales in January-February fell 4.4 percent from a year earlier to 2.37 million vehicles. Total sales, including trucks and buses, dropped 6 percent to 2.95 million vehicles.

Some 1.21 million passenger cars were sold in February, up 26.5 percent from a year earlier. Total vehicle sales rose 24.5 percent year-on-year to 1.57 million vehicles.

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Geely signs tech transfer deal with Volvo

March 10, 2012 by Joey Wang

Volvo China

Geely Automobile Holdings said its parent and Volvo Car had signed a technology transfer deal allowing the Chinese maker of low-cost cars to enrich its product portfolio and make it more competitive in its home market. “It will support us in realising the aspirations to make China our second home market,” Stefan Jacoby, president and chief executive of Volvo, said on Friday.

Under the agreement, Zhejiang Geely will leverage its full access to technology authorized by the Swedish carmaker to develop a new premium brand for the Chinese market, said Yang Xueliang, a spokesperson for Geely’s parent company.

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Ford China sales up 28% in February

March 8, 2012 by Joey Wang

Ford Focus China

Ford said Wednesday its sales in China totaled 40,978 vehicles in February, up 28% on year and bolstered by strong demand for its Mondeo sedan and Transit transporter van. Ford sold 27,616 Ford-branded vehicles in February, an increase of 21%, it said in a statement.

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Long-wheelbase Bentley Mulsanne for China, Dürheimer says

March 8, 2012 by Tycho de Feijter

Long-wheelbase Bentley Mulsanne

CEO Wolfgang Dürheimer told Chinese journalists at the Geneva Auto Show that Bentley is developing a stretched Mulsanne for the Chinese car market. He also said that Bentley is planning to start production of the EXP 9F SUV in 2015, the SUV is primarily developed for Asian markets. China is currently Bentley’s number two market worldwide after the US, Bentley expects China to take the number one spot in 2013.

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Ferrari going West in China, opens new dealer in Kunming

March 8, 2012 by Tycho de Feijter

Ferrari China

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.

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Audi sales in China up 66% in February

March 7, 2012 by Joey Wang

Audi Q3 Bird's Nest Beijing with German plates

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.

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GM sales in China up 31% in February

March 7, 2012 by Joey Wang

Buick 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.

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