China's luxury car sales will grow 70% in 2010, FAW-VW says
Shanghai November 22 (Gasgoo.com) In light of the surging demand in China's premium car market, global auto giants such as Volkswagen, BMW and Mercedes-Benz have all accelerated their expansion through either building new plants or importing new models, wccdaily.com reported Monday.
"In recent years, the luxury car segment in China has been growing more than twice as fast as the other segments. If everything goes well, sales of luxury cars should approach 700,000 units in 2010, a year-on-year increase of 70%," said Zhang Xiaojun, executive vice-president of FAW-VW Audi Sales Division. Meanwhile, JD Power & Associates predicted that luxury car sales in China will double by 2015.
(Click the title to read the full article)
Own-brand Baojun 630 rolls off line at SAIC-GM-Wuling
Shanghai November 22 (Gasgoo.com) SAIC-GM-Wuling Automobile Co., General Motors' mini commercial vehicle joint venture in China with SAIC Motor and Liuzhou Wuling Automobile, has officially rolled out its first self-developed sedan, Baojun 630, today, sohu.com reported Monday.
The Baojun 630 looks quite similar with the previous GP50 concept car except some changes to its rear section, like rear window and rear lights, etc., which makes the front more prominent, especially the logo.
Jeep Patriot to enter Chinese market in mid-2011
Shanghai November 23 (Gasgoo.com) Following General Motor's successful IPO, the other U.S. automaker Chrysler LLC, which since emerged from a U.S. government-financed bankruptcy in June under management control of Italy's Fiat SpA, has also developed a series of strategies to survive its flagging fortunes.
According to National Business Daily, Chrysler will import its Jeep Patriot, a lightweight SUV, to China in mid-2011, hoping that this mid-to-low end Jeep model will be more suitable for Chinese consumers and meanwhile helping it grab more market share.
SAIC-GM-Wuling eyes overseas market for own-brand Baojun cars
Shanghai November 23 (Gasgoo.com) SAIC-GM-Wuling (SGMW), one of GM China's main joint ventures, rolled out yesterday its first own-brand Baojun 630 passenger car, which the automaker is considering exporting to India and other overseas markets through technology transfer, Shanghai Securities News reported Tuesday.
SGMW, a joint venture between General Motors, SAIC Motor and Liuzhou Wuling Automobile, expects to launch the Baojun 630 in the domestic market early next year, targeting mainly the segment of middle-class vehicles.
More VW luxury car brands coming to China next year
Shanghai November 24 (Gasgoo.com) Volkswagen Group, which is on track to meet its sales target of 40,000 imported cars for 2010 in China, has raised its sales outlook for 2011 to 60,000 units, Mr. Sou Weiming, vice president of Volkswagen Group China recently said in an interview with Beijing Youth Daily.
VW sold 1.6 million vehicles in China in the first ten months and is set to complete its sales target of 2 millions for this year. Mr. Sou revealed, adding that the German automaker will introduce more of its luxury car brands to China and will certainly bring in the VW R-Series next year.
Ricardo, Lifan Auto jointly making new energy-saving engines
Shanghai November 24 (Gasgoo.com) Chongqing Lifan Industry (Group) Co., Ltd., one of the largest professional motorcycle manufactures in China, announced November 18 it will collaborate with the British-listed Ricardo plc to develop two new energy-saving gasoline engines, local media reported Wednesday.
Ricardo, which has established long-term relationships with gloabl auto giants like General Motors, Ford, BMW, Daimler, Renault, Ferrari, etc., carried out an in-depth investigation into Lifan's manufacturing process, production capacity and R&D level during November 16-18, 2010.
Hyundai building 400,000-capacity plant in Beijing
Shanghai November 25 (Gasgoo.com) Beijing Hyundai Motor, a joint venture between Hyundai Motor and Beijing Automotive Industry Holding Corp (BAIC), will hold a groundbreaking ceremony for its third plant in Beijing's Shunyi District on November 28.
The JV's two existing plants are located in the Shunyi District too, each capable of building 300,000 vehicles per year. Its third plant with an annual production capacity of 400,000 units will raise its current capacity to 1 million units after going into operation.
Foton, Sichuan Tengzhong to form special vehicle JV
Shanghai November 25 (Gasgoo.com) Beiqi Foton Motor Co., Ltd., announced today it plans to invest 20 million yuan (3 million) to create a joint venture with a subsidiary of Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. to make special vehicles, Shanghai Securities News reported Wednesday.
Foton, partly owned by Beijing Automotive Industry Holding (BAIC), will hold a 25% stake in the joint venture, "Sichuan Tengzhong Futian (Foton) Special Purpose Vehicle Co., Ltd.", which will be headquartered in Shifang City, Sichuan province, with a registered capital of 80 million yuan.
Audi A6L first in luxury car complaint ranking list
Shanghai November 26 (Gasgoo.com) The Audi A6L was ranked first in the "luxury car complaint ranking list" conducted by China Securities Journal and the car complaints network (vehicle 3.15) during November 18-24. Other luxury cars that made the list include the Mercedes-Benz C-Class, Subaru forester and Jeep Compass, etc..
Shanghai Securities News reported that the Audi A6L had a total of 27 complaint cases during the period with focus on the gearbox, pumps, headlights, insufficient engine oil and other core problems. While up until now, Audi has not yet addressed these problems or issued a recall. The luxury brand sold 150,000 vehicles in the Chinese market in 2009, and is expected to break the 200,000 sales mark this year.
2012 Saab 9-4X likely to go on sale in China next year
Shanghai November 26 (Gasgoo.com) Swedish carmaker Saab, now owned by Dutch auto maker Spyker, will start selling cars in China, Russia, Brazil and Mexico in the first half 2011. Its small luxury crossover, the new Saab 9-4X will probably be the first model to be put on the Chinese market, where SUVs are the most beloved, xcar.com reported Friday, citing Adrian Hallmark, Saab's executive director of sales.
The 2012 Saab 9-4X, which made its world debut at the 2010 LA Auto Show last week, will go on sale in the U.S. market next May starting at $34,205 and be sold in Europe and other markets in August 2011.
