Super luxury cars flocking to China's 2nd- and 3rd-tier cities (Part 1)
Shanghai November 1 (Gasgoo.com) Sales of luxury marques such as Bentley, Ferrari, Maserati, Rolls Royce, etc. are growing rapidly in China's second- and third-tier cities like Tianjin, Erdos, Xi'an, Dalian, Xiamen, Chongqing...as the country's booming economy has provided more people with opportunities to amass enormous wealth, along with greater purchasing power, China Times reported Monday.
The all-new Bugatti sports car worth 38 million yuan ($5.7 million) was reportedly ordered after being showcased for less than an hour in its first day at the 2010 International Auto Show held in Ordos during September 30 to October 4. The exhibition generated total sales of 90 million yuan on the same day, when one 15 million yuan Maybach car, two invaluable Lamborghini cars and five Bentley cars were sold. "It was totally unexpected, a real surprise," dealers said. Meanwhile, Shen Qi, senior network development manager of Bentley China revealed that the company will open new dealerships in inner Mongolia in the next 18 months.
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Super luxury cars flocking to China's 2nd- and 3rd-tier cities (Part 2)
Shanghai November 1 (Gasgoo.com) McKinsay & Company research revealed that around 30% of Chinese wealthy people are now living in the cities like Beijing, Shanghai, Shenzhen, Guangzhou, etc., while by 2015, 75% of rich people will live in country's second- and third-tier cities but not those costal cities, according to China Times.
Goldman Sachs also predicted that the number of luxury consumers in China will grow from the current 40 million to 160 million in the next five years, with a majority of these people living in the second- and third-tier cities.
China's small car market is booming rapidly
Shanghai November 2 (Gasgoo.com) The rapid development of the A0- and A00-Class market in China has attracted joint-venture and homegrown carmakers to swarm into the small car market. Demand for A0-Class and A00-Class sedans is expected to reach around 2 million units by 2012, Beijing Business News reported Tuesday.
Volkswagen has recently launched its New 2011 Skoda Fabia in China. Beijing Hyundai, a joint venture between BAIC Group and Hyundai Motor, will also put the Verna sedan on the market this year, sources said.
Porsche opens first outlet store in Shanghai
Shanghai November 2 (Gasgoo.com) German sports car maker Porsche AG recently opened its first outlet store in China in Shanghai Pudong District, which is also home to Porsche China Headquarters, National Business Daily reported Tuesday.
The birth of this direct sales store can be derived from a Porsche Center located in Lujiazui Finance and Trade Zone, Pudong District--Porsche China signed an agreement with Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. in July 2008 to build a 3,000-square-meter Porsche facility in the core area of Pudong District.
Dongfeng Motor sales break 1.05 mln units in Jan-Oct
Shanghai November 3 (Gasgoo.com) Dongfeng Motor Co., Ltd. announced in Beijing on November 1 that sales from January to October rose 41% from a year earlier to over 1.05 million vehicles, two years ahead of the company's 1 million sales target, the Beijing Times reported Wednesday.
The company has thus raised its 2012 sales target by 50% to 1.5 million vehicles, and plans to launch more than ten new models, including over seven passenger models, in the domestic market in the next two years.
BMW Brilliance plans new energy vehicle for Chinese market
Shanghai November 3 (Gasgoo.com) After successfully launched the long-wheelbase version of the BMW 5 Series sedan in China, BMW Brilliance Automotive Ltd. now plans to design and develop a new energy vehicle tailored to the Chinese taste, the company's Senior Vice President of Marketing Dr.Daniel Kirchert recently said in an interview with the Oriental Morning Post at the China green enterprises summit forum held in Lhasa.
The new energy vehicle to be developed by BMW Brilliance Automotive Ltd., BMW AG's Chinese venture with Brilliance China, is reportedly will be an electric vehicle. The intellectual property will belong to both partners. Dr.Daniel Kirchert said the company will also consider exporting this electric vehicle.
Dongfeng to launch entry-level pure electric car by end of 2011
Shanghai November 4 (Gasgoo.com) Dongfeng Automobile Co., Ltd. (600006) said on November 3 that it will launch an entry-level pure electric scooter in the domestic market by the end of 2011, the Beijing Times reported Thursday.
The all-electric scooter, targeting mainly Chinese urban households in daily use, will come in two and four seat versions.
Private purchase of BYD e6 delayed due to insufficient infrastructure
Shanghai November 4 (Gasgoo.com) BYD Co. may postpone private purchase of its pure electric car, the e6, until next June due to insufficient infrastructure in China, the Oriental Morning Post reported Thursday, citing a company insider.
The Chinese automaker was intended to start selling its e6 electric car in the consumer market in June this year, and denied it has problems with the technology.
Guangzhou Auto signs JV deal with Mitsubishi today
Shanghai November 5 (Gasgoo.com) Guangzhou Automobile Group and Mitsubishi Motors Corporation have signed today a memorandum of understanding (MOU) to establish a 50-50 joint venture in Changsha, Hunan, the capital of Hunan Province in south China, National Business Daily reported Friday.
GAC Changfeng Motor Co. Ltd. (600991.SH) will however withdraw from the cooperation with Guangzhou Auto that now holds a 29% stake in GAC Changfeng, and is set to tap the auto parts market.
Mercedes-Benz to recall imported trucks in China
Shanghai November 5 (Gasgoo.com) German automaker Daimler AG will recall 80 units of its Mercedes-Benz trucks in China staring November 10, the Beijing Times reported Friday, citing a statement posted on the website of the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ).
The recall affects 51 units of the Mercedes-Benz Arctos 934 produced between February 1 and May 27 2010, and 29 units of the Mercedes-Benz Atego 970 manufactured from February 2, 2004 to May 31, 2008.
