Archive for the ‘Passenger car’ category
Bentley offered £3 million government grant to sell cars in China
AutoChina.org (Shanghai November 3) - Bentley has been offered a government grant of £ 3 million to boost car sales in China. Regional Growth Fund will help the company take care of all its research and development expenses which it will entail to develop new engine technology especially for Chinese auto markets. Earlier, the company was offered £ [...]
BAIC and Daimler sign Letter of Intent to further deepen strategic partnership
AutoChina.org (STUTTGART November 3)– Beijing Automotive Group Co., Ltd. (BAIC) and its German partner Daimler AG signed a Letter of Intent in Stuttgart, Germany on November 2, which will further deepen the comprehensive strategic partnership between these two companies, according to a BAIC press release. The Letter of Intent states that both sides are going to [...]
Kia Motors to build new China plant and models
AutoChina.org (Seoul November 2) – South Korea’s Kia Motors said on Wednesday that its Chinese joint venture plans to build its third vehicle manufacturing facility in China by 2014, producing cars targeted at the world’s top auto market. The new facility with an annual capacity of 300,000 vehicles will bring Kia’s total capacity in China to [...]
Volvo designer Peter Horbury moves to China’s Geely Group
AutoChina.org (Seoul November 2) – Volvo Car Corp. styling chief Peter Horbury is moving to the Swedish automaker’s sister brand, Geely Group, as senior vice president design. A decision on who will succeed Horbury as Volvo head of design has not been made. “The process is ongoing,” said a Volvo spokesman, who added that the design [...]
Shanghai GM looks to cut emissions and increase fuel savings
AutoChina.org (Shanghai November 1) - In accordance with its green product development strategy, Shanghai GM will be unveiling 12 new high-performance engines by 2015, the Beijing Morning Postreported today. The announcement was made by Zhang Zhihong, director of brand planning for the joint venture, at a test drive event for the new Buick LaCrosse eAssist hybrid held in [...]
BYD official comments on new energy vehicles in China
AutoChina.org (Shanghai October 31) - With the debut of its E6 sedan, the manufacturer has its sights set on gaining the advantage in the new energy vehicle market. However, the up to 60,000 yuan ($9,485.42) subsidy the government put out a year and a half ago has not seemed to done much in promoting growth in the [...]
BYD achieves Q3 net profit of 77.37m yuan
AutoChina.org (Shanghai October 31) - BYD has seen a major swing for the better performance in this past third quarter. According to a report in the China Securities Journal today, the manufacturer’s business returns grew 10.95 percent from last year, and its net profit grew an astounding 582 percent, totaling 77.37 million yuan ($12.23m). BYD’s returns for the first [...]
Citroen has big plans in China for DS5
AutoChina.org (Shanghai October 31)-CITROEN bosses have confirmed that they plan to grow the luxury DS brand with dedicated dealerships, new models and exclusive membership clubs. The new models include three cars that will be aimed solely at the Chinese market as well as new DS3 variants. China is currently the company’s second biggest market and [...]
BYD warning
AutoChina.org (Shenzhen October 31)- BYD Co, the Chinese carmaker partly owned by Warren Buffett’s Berkshire Hathaway Inc, yesterday said its full-year profit may drop by as much as 65 percent, dragged down by slowing sales of automobiles and solar-energy products. Net income may fall 35-65 percent to 883.2 million yuan (US$139 million) to 1.64 billion [...]
JVs excel as sales of Chinese own brand manufacturers continue to fall
AutoChina.org (Shanghai October 28) – “With this year’s macroeconomic tightening, several own brand enterprises are seeing their profit drop severely,” Assistant Secretary of the China Passenger Car Association Cui Dongshu said in an interview with Caijingtoday. Mr. Cui added that appreciated of the yuan is helping joint ventures gain a competitive advantage in the market, [...]
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