BMW Brilliance expects 30% sales growth this year
Shanghai, December 21 (Gasgoo.com) Brilliance China Automotive is confident about China's car market and expects sales growth for BMW Brilliance, its joint venture with BMW AG, to reach 30% this year, media reported over the weekend.
Sales of BMW Brilliance reached 41,372 cars in the first 11 months of the year, and the full-year sales are expected to top 43,000 units, up 30% year on year. The venture posted a 25% sales growth in the first half and the growth in the second half will be higher than that.
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SAIC-GM-Wuling first to sell 1 mln vehicles this year
Shanghai, December 21 (Gasgoo.com) General Motors' mini-vehicle venture in China -- SAIC-GM-Wuling Automobile Co. Ltd. -- has become the first Chinese automaker to break the 1 million-unit sales mark in 2009, CCTV.com reported yesterday, citing GM China's statement.
By December 15, SAIC-GM-Wuling had sold a total of 1.0264 million vehicles this year, up 57. 8%, becoming the first automaker in China to hit the 1 million sales mark in a single calendar year and meanwhile a newcomer to the Chinese auto industry's "1-million-unit club."
China sells 27,700 MPVs in November, up 92.06%
Shanghai, December 22 (Gasgoo.com) China sold 27,700 multi-purpose vehicles last month, up 92.06% from a year earlier, Xinhua News last week, citing industry data.
According to statistics from the China Association of Automobile Manufacturers, the top five best-selling MPV models in November achieved total sales of 15,500 units. They are JAC Refine, Buick GL8, Honda Odyssey, Mazda Premacy and FAW Xenia.
Taiwan carmaker Yulon to cut expense 30% in 2010
Shanghai, December 22 (Gasgoo.com) Yulon Group, the largest automaker in Taiwan, recently decided to cut its spending by 20% to 30% in 2010 as it predicted auto sales on the island would slow down next year, the Taiwan Economic News reported today.
The spending cuts policy is the first major decision made after Yulon Group's five-member top management team was established. Outsiders say Yulon's decision is unusual because Taiwan's new-car sales have seen clear recovery in the second half of 2009, with full-year sales expected to grow 30% about 300,000 units.
GM seeking 10.9% more stake in Wuling JV
Shanghai, December 23 (Gasgoo.com) General Motors is seeking to buy an additional 10.9% stake in SAIC-GM-Wuling (SGMW), its mini-commercial vehicle venture in China, China Daily reported today, citing a top executive of GM's Chinese partner SAIC.
SAIC-GM-Wuling Automobile Co. is a three-way joint venture between SAIC (holding 50.1% share), GM (34%) and Wuling Motors (15.9%). SAIC Motor president Chen Hong yesterday said his company would retain its 50.1% stake and wouldn't alter its holdings in the minivan JV, China's current sales champion in this sector.
Beijing Auto buys GM's Saab technology for $200M
Shanghai, December 23 (Gasgoo.com) Beijing Automotive Industry Holding Corp (BAIC) said it paid $200 million for Saab technology from General Motors, a move which would allow the fifth-largest Chinese carmaker to roll out Saab-based cars in 2011, Reuters reported today.
The intellectual property bought by BAIC includes the rights to three overall vehicle platforms, two engine technologies and two transmission systems, the company said in a statement today. It is set to integrate the Saab technology into its vehicles immediately.
Ford, Geely agree on Volvo, to complete sale by June
Ford Motor Co. agreed with China's Zhejiang Geely Holding Group Co. on most terms for a sale of the U.S. automaker's Volvo Car Corp. unit in the second quarter.
A definitive agreement probably will be signed by March 31, with a sale completed by June 30, the companies said in statements today. No financial details were provided. Ford has made progress to resolve issues such as protecting intellectual property, a person familiar with the talks has said.
Chery Auto launches luxury sedan Riich G5
Shanghai, December 24 (Gasgoo.com) Chery Auto launched the first mid-size sedan model of its luxury sub-brand Riich in Beijing yesterday, Xinhua News reported. The Riich G5 is Chery's first entry model into the premium sedan segment.
As Chery's self-developed luxury sedan, the Riich G5 is currently equipped with Chery's home-built 2.0T engine, with 170 horsepower and 235 N/m torque at 1900rpm. The G5 measures 4717mm x 1,794mm x 1,473mm, with a wheel base of 2,700mm.
Geely planning to build a Volvo factory in China
Shanghai, December 24 (Gasgoo.com) Zhejiang Geely Holding Group is planning to build a Volvo factory in China after buying the Swedish car unit of Ford Motor, Bloomberg reported today, citing sources familiar with the deal.
Ford and Geely yesterday agreed on most terms for selling the U.S. automaker's Volvo Car Corp to China's largest private automaker in the second quarter next year. They plan to sign a definitive agreement by March 31, with a sale to be completed by June 30. The deal was reportedly in the region of $1.8 billion to $2 billion.
Changan Ford Mazda to continue Volvo production
Shanghai, December 25 (Gasgoo.com) After Ford's Volvo unit is sold to Geely in China, the U.S. auto giant's Chinese venture Changan Ford Mazda Automobile Co will continue producing Volvo vehicles, SinoCast reported yesterday, citing a Changan Auto executive.
According to an earlier contract, Changan Ford Mazda, a passenger car joint venture between Changan Auto, Ford Motor and Mazda Motor, will not stop the production of the Volvo S40 until 2015 and of the Volvo S80 until 2018, said a publicity manager of Changan Auto. Volvo's auto parts supply will not stop, either.
Toyota to recall 43,023 imported vehicles in China
Shanghai, December 25 (Gasgoo.com) Toyota Motor's Chinese unit said yesterday that it will start from December 30 to recall 43,023 imported vehicles due to possible engine oil leakage, the Nikkei reported.
The recall affects four models, which are the Lexus ES 350, the Lexus RX 350, the Highlander sports utility vehicle (SUV) and the Previa minivan, but does not apply to vehicles manufactured in China and exported to Japan.
