Geely confident of successful bid for Ford's Volvo
Shanghai, November 2 (Gasgoo.com) Geely's chairman Li Shufu said on Friday that his company is confident its bid for Ford Motor's Volvo unit will be successful, as it seeks to lead Chinese automakers onto the global stage, Reuters reported.
Geely Holding Group, the parent of Geely Automobile, was named by Ford Motor as a preferred bidder for its loss-making Swedish unit Volvo Cars Corp late on Wednesday. Li told Reuters that the talks were still at an early stage and were proceeding cautiously.
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New auto-sales tax may cover 1.8-2.0L cars
Shanghai, November 2 (Gasgoo.com) As the sales tax cuts for smaller cars are to expire at the end of this year, the new policy of auto sales tax is set to be published in the coming days, Chinese Business View reported today.
It is said apart from the extension of the current policy that halved purchase tax on small vehicles with the 1.6L or smaller engine size, autos with 1.8L to 2.0L engines may also benefit from the forthcoming policy.
China own-brand fleet marching to Dakar Rally
Shanghai, November 3 (Gasgoo.com) Rely, a high-end commercial vehicle brand of Chinese carmaker Chery Auto, claimed to take part in Dakar Rally on Oct. 31, Beijing. This marks the first Chinese fleet to compete in world’s top race.
Rely X5, the first SUV of Chery's Rely brand, is ready to be the entry vehicle.
SAIC to start making new-energy vehicle in 2010
Shanghai, November 3 (Gasgoo.com) SAIC has completed its new-energy industrial chain and expects to start production of its new-energy vehicles in 2010, Xinhua News reported today.
"Our related core technologies of auto parts have successfully broken the international hybrid vehicle barriers," a spokesman of SAIC said.
Ferrari sees China to be top 3 market
Shanghai, November 4 (Gasgoo.com) Italian carmaker Fiat said Tuesday that China is to be one of the top three markets of its luxury cars in 5 years, Reuters reported.
Ferrari aimed to sell about 600 units per year in China over the same time frame, Marco Mattiacci, the company's Asia-Pacific chief executive, told Reuters in an interview.
Shanghai GM produces its first own brand vehicle
Shanghai, November 4 (Gasgoo.com) "After 4 years' R&D, New Chevrolet Sail, the first own-brand vehicle of Shanghai GM, has completed the testing proceeding and is ready to be launched," Ding Lei, general manager of Shanghai GM has told the reporter from Xinhua News.
The New Sail is due to be the first vehicle produced by a Chinese auto joint venture, with independent intellectual property rights. This success marks the breakthrough of domestic own brand R&D, easing the impasse that core technologies are entirely controlled by overseas automakers.
Nissan Motor increases China sales projections
Shanghai, November 4 (Gasgoo.com) Nissan Motor has increased sales projections in China as government subsidies boosted vehicle demand, Bloomberg reported today. The Japanese carmaker expects to sell 712,000 vehicles in China this fiscal year ending March 31, 2010, up from an earlier forecast of 570,000.
"China is becoming vital for Nissan," said Koji Endo, Managing Director at Advanced Research Japan Co., a Tokyo-based equity research firm. "Government stimulus programs have also worked better than Nissan expected." China's vehicle sales may rise 28% to 12 million this year, making the country surpass the U.S. as the world's largest auto market.
Taiwan dealers earger to sell mainland cars
Shanghai, November 5 (Gasgoo.com) Cross-strait economic cooperation framework agreement (ECFA) to sign in sight, China’s mainland vehicle imports to Taiwan can get zero tariff entries within the quota in the future.
Taiwan car dealers welcome this possible policy and say they are looking forward to the final signing of this deal, China Securities Journal reported today.
Changan Auto set to merge AVIC auto operations
Shanghai, November 5 (Gasgoo.com) Changan Automobile (Group) Co., Ltd. is set to announce on Nov. 10 its merger of the auto-making operations of Aviation Industry Corporation of China (AVIC), the parent of Hafei Auto and Changhe Auto, after several months of painstaking talks, the Economic Observer reported today.
This will be possibly the first merger and restructuring of auto businesses to take place between two state-owned giant enterprises in China. A top executive of Changan Group has confirmed that the merger is "a sure thing if nothing unusual happens."
Chery Auto to launch premium brand 'Xuan Yuan'
Shanghai, November 6 (Gasgoo.com) Chery Auto plans on adding yet another super brand to its lineup of sub brands, which currently consist of Chery, Karry, Riich and Reely, the China Car Times reported yesterday.
The new 'super luxury' brand is going to be named Xuan Yuan (轩辕), taking the name of a man in early Chinese history that managed to build a car using differential gears to power itself somehow, according to the report.
Toyota '09 China sales may rise 19% to 700,000 units
Shanghai, November 6 (Gasgoo.com) Toyota Motor may increase vehicle sales in China 19% this year to 700,000 units, the company's senior managing director said today, Bloomberg reported.
Last month, Toyota Motor's sales in China increased 42% from a year earlier to 65,500 vehicles. The robust sales in October boosted the company's overall sales in the Chinese market during the January-October period to 551,769 vehicles, up 16%.
