Peugeot intensifies Chinese market expansion effort
Shanghai July 26 (Gasgoo.com) Recently, Peugeot revealed to the media that it will speed up the development of electric cars, motorcycles and new cars' businesses in China to expand the Chinese market share.
Peugeot's new electric car BB1 made its debut in the World Expo 2010 in Shanghai, China. Philip Ambato, minister for international department of Peugeot, said that if the Chinese new energy market has a promising prospect, and PSA is anxious for the introduction of such an environment-friendly electric car, Peugeot BB1 will pick the optimum time to enter the Chinese market.
(Click the title to read the full article)
China becomes largest market for Porsche Cayenne
Shanghai, July 26 (Gasgoo.com) China has now become Porsche Cayenne's largest market and Porsche's third largest after the United States and Germany, with 8,629 units of the luxury German auto brand sold last year. In 2012, China is likely to soar to second place, with sales of Porsche Cayenne to exceed 10,000 units, Porsche China CEO Helmut Broeker said recently.
Meanwhile, Porsche China will soon launch two new Cayenne models to the Chinese market: the Cayenne S and the Cayenne Turbo. Both of the models will carry a Porsche V8 engine and be sold at 1.48 million yuan ($217,000) and 2.03 million yuan ($300,000) respectively.
Volvo recalls 875 C30s in China on manual error
Shanghai, July 27 (Gasgoo.com) Volvo issued a recall on July 26 for 875 imported C30 vehicles sold in mainland China, media reported, citing the country's quality regulator.
The recall was ordered to correct certain errors in the owner's manual on the C30 model, produced by Volvo between November 9, 2009 and February 5, 2010.
Mitsubishi may bring new minicar to China
Shanghai July 27 (Gasgoo.com) Mitsubishi Motors is planning to introduce its new minicar, which has been launched worldwide, to the Chinese market and there is a great possibility that Mitsubishi may produce it in China, media reported.
It is reported that Mitsubishi attaches great importance to the competitive minicar and compact car segments in the Chinese market. Even though the new minicar model hasn't been named yet, it is to be equipped with 1.0L or 1.2 L engines.
Geely set to launch new Emgrand EC7 in August
Shanghai, July 28 (Gasgoo.com) Geely will launch its new Emgrand EC7 to the domestic market in August. The 1.8L EC7, which carries a six-speed continuously variable transmission (CVT), will be the company's first "automatic" version, media reported.
The new EC7 features Geely's self-developed all-aluminum GETECJLγ-4G18 CVVT engine (102Kw, 172Nm of torque), matching Punch Powertrain's VT2-type CVT with a six-speed manual mode, a sports mode and an economy mode.
Geely plans to produce Volvo SUVs in Chengdu base
Shanghai, July 28 (Gasgoo.com) Zhejiang Geely Holding Group, who is expected to close its acquisition of Sweden's Volvo Cars in the third quarter of this year, plans to produce the Volvo SUVs in its Chengdu base in southwest China's Sichuan province, relevant sources revealed lately.
The western part of China is a key market for Volvo, particularly for Volvo SUVs, an executive from Volvo said.
Hyundai may oppose BAIC's IPO move
Shanghai, July 29 (Gasgoo.com) Beijing Automotive Industry Holding Co (BAIC) is expected to float its passenger car business to the stock market this week. However, owing to its partner Hyundai Motor's opposition, it has never been able to determine its IPO timetable, China's media said toady.
According to earlier reports, BAIC will not float its commercial vehicles business (Beiqi Foton Motor) this time, which means the company's IPO package is likely to consist of Beijing Hyundai Motor Co., Ltd., Beijing Benz - Daimler Chrysler Automotive Co., Ltd., Beijing Automobile Works Co., Ltd. and Beijing Hainachuan Automotive Parts Co., Ltd., among which Beijing Hyundai has the greatest potential to attract investment, as BAIC's most profitable unit.
Shanghai GM set to sell Chevrolet SUVs in China
Shanghai, July 29 (Gasgoo.com) Shanghai GM, a joint venture in China between General Motors Corp and SAIC Motor Corp, is now gearing up to import a couple of Chevrolet SUVs to the domestic market, media reported today.
GM and its Chinese partner SAIC Motor will put the Captiva compact SUV into local production in the first quarter of this year, import the all-new Chevrolet Spark SUV and put it on sale in October, and launch the Chevrolet Cruze 1.6L to the market in the year also, said Ren Jianqiong, Shanghai GM Executive Vice Director of Marketing Department of Marketing.
Guangzhou-Fiat JV likely to produce Ferrari
Shanghai, July 30 (Gasgoo.com) After more than one year's cooperation with China's Guangzhou Auto Group Co Ltd (GAC) on passenger cars, Fiat SpA, has recently decided to produce its Ferrari car in the Changsha-based Guangzhou-Fiat joint venture, GAC said yesterday.
Moreover, the Italian carmaker expects to get rid of the previous impression of low-end small cars, and tap the mainstream passenger vehicle segment through the launch of more sedans, MPVs and SUVs in the Chinese market. In addition to the "Fiat C-Medium" as well as a C-Class model and a D-Class model from Fiat, two SUVs from Chrysler will also be produced in the joint venture.
FAW set to produce Red Flag CA7600L limousine
Shanghai, July 30 (Gasgoo.com) China's auto giant FAW Group announced not long after April's Beijing Auto Show that it will launch four own-brand Red Flag (Hongqi) models by 2012 and all the models will be using the H platform developed by its own engineers and be designated as the super-luxury cars.
Now, we finally got some news on the first Red Flag model: the CA7600L limousine, which FAW is now seriously considering producing and which is likely to be priced around 4 million yuan ($58,500).
