BAIC to increase dealer network by 400% in 2011
Shanghai December 27 (Gasgoo.com) Beijing Automotive Industry Holding Corp (BAIC) plans a 400 percent increase in its dealer network to 200 dealerships before the end of 2011, auto.163.com reported Monday, citing the company's deputy general manager Zhang Xin.
BAIC held the inauguration ceremony for its new production base in Zhuzhou, central China's Hunan province on December 26, when the BC301Z, a high-end sedan model, rolled off assembly line and will be launched to the market around the spring festival, Zhang said.
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Renault China becomes Renault's sole distributor
Shanghai December 27 (Gasgoo.com) Chen Guozhang, president of Renault's Greater China division, told the Beijing News last week that Renault (Beijing) Automobile Co., Ltd. will become the sole distributor for Renault SA from next year, functioning independently as the sole import agent of the Renault vehicles in China.
Renault China, headquartered in Beijing, has started building Renault (Beijing) Automobile Co., Ltd. since February this year, sources said. Renault had no exclusive importer in China previously, but had the number of dealers serving as the regional distributor. The French automaker has cut off five importers since April, however, and has now granted the distributorship for China to its Greater China division.
Infiniti eyes 10% share in China's luxury car market
Shanghai December 28 (Gasgoo.com) Infiniti, the luxury brand of Nissan Motor Co Ltd (7201.T), eyes 10% market share in the luxury vehicle segment in China, and plans to further increase that proportion in the next few years, Toru Saito, vice president of Nissan Motor Co. said in an interview with Yangtze River Business during the eighth Guangzhou International Auto Show.
Infiniti has showcased its full portfolio for the first time in China at the show, showing its intention to speed up expansion into the world's biggest auto market, which is now the Japanese brand's second largest and fast-growing market, according to Toru Saito.
BAIC is bidding to acquire Italy’s Pininfarina, exec says
Shanghai December 28 (Gasgoo.com) Beijing Automotive Industry Holding Corp (BAIC) is bidding to acquire Pininfarina S.p.A., an Italian car design firm and coachbuilder, eeo.com.cn reported Tuesday, citing an executive at BAIC’s passenger car division.
"I just came back from Italy last week and have communicated with the technical staff at Pininfarina about the design proposal of the Saab models,” the person said. “Pininfarina is the most successful overseas car design company in China. BAIC has been collaborating with it on development of models based on the Sabb technology and will display an all-new concept car with the Sabb genes at next year’s Shanghai auto show, while Pininfarina will be responsible for the contour design of the car.”
Geely to build 15 overseas production bases in next five years: chairman
Shanghai December 29 (Gasgoo.com) Zhejiang Geely Holding Group Co. will build 15 overseas production bases in the next five years, boosting both vehicle production and sales to two million units, Xinhua News Agency reported Wednesday, citing the Group's chairman Li Shufu.
Geely, the new Chinese owner of Volvo Cars, plans to make over 40 models based on five technical platforms and 15 of its existing models by 2015. Meanwhile, it will develop six engine platforms, more than 10 engines, and a full range of manual and automatic transmissions, in line with the domestic and international regulatory requirements for both gasoline and diesel vehicles.
Beijing Hyundai to supply 10,000 vehicles to Yinjian taxi company
Shanghai December 29 (Gasgoo.com) Beijing Hyundai has yesterday signed a strategic cooperation agreement with Beijing Yinjian, the biggest taxi company in China, to supply 10,000 vehicles to the latter in the coming five years, Xinhua News Agency reported Wednesday.
Providing customers with almost 100% satisfaction, the vehicles made by the South Korean-Chinese joint venture have been put into use as taxis in more than 60 large- and medium-sized cities across the country, and secured Beijing Hyundai's leading position in the industry.
Dongfeng PSA to expand dealer network into 164 cities
Shanghai December 30 (Gasgoo.com) Dongfeng Peugeot Citroen Automobile Co., Ltd., a joint venture between PSA Peugeot Citroen and Dongfeng Motor Corp, has recently held an investment fair in Zhuhai and Shanghai, roping in 102 investors to expand its dealer network into 164 cities, the Beijing Times reported Thursday.
Dongfeng PSA has never stopped expanding its network in the world’s largest auto market. Its two arms: Dongfeng Citroen and Dongfeng Peugeot have all opened new dealerships in China this year, adding 57 and 60 respectively.
China’s auto import market to grow 20% in 2011
Shanghai December 30 (Gasgoo.com) China’s automobile import market is expected to grow 20% in 2011, with about 800,000 vehicles to be registered, and higher than the estimated growth rate of the domestically-made vehicles, reported China Youth Daily, citing the report released by China Automobile Trading Co. (CATC).
In the first ten months of this year, China imported 604,000 vehicles, up 132.7% from the same period last year; while the number of imported vehicles obtaining license plates totaled 522,000, a year-on-year increase of 91.7%. Registered vehicles for the whole year are expected to surpass 650,000 units, the report said.
Foton Motor announces 2020 vision: to form five pillar industries
Shanghai December 31 (Gasgoo.com) Beiqi Foton Motor Co Ltd (600166, SH), the world's biggest commercial vehicle maker by sales last year, announced recently its 2020 vision: to form five pillar industries, including new energy vehicles, new energy, heavy machinery, the Internet of things and financial services, auto.sina.com reported Friday.
Currently the Internet of things industry has been basically formed, and we will enter the implementation phase of this industry in the first half of next year; while plans for the formation of the financial services industry, not just limited to the auto finance filed, is still under development, said Zhao Jingguang, deputy Party secretary of Foton Motor.
Changan Group to invest $1.5 bln for vehicle production in Kunming
Shanghai December 31 (Gasgoo.com) China South Industries Group Corporation (CSGC), China Changan Automobile Group's parent company, signed December 28 an agreement with the Yunan government to invest 10 billion yuan ($1.5 billion) in making 400,000 vehicles and 1.2 million engines per year in Kunming, capital of Yunnan province, Chongqing Commercial Daily reported Friday.
CSGC, a state-owned automobile manufacturer, will restructure the assets of Yunnan Internal-Combustion Engine Plant which holds a 38.14% stake in Kunming Yunnei Power, whose shares were suspended on December 8 in preparation for the agreement.
