China auto news this week(2007.03.12-2007.03.18)

This week, State Statistics Bureau and China Auto Industry Association released Februarys auto output and sales dada, although sales in February slightly dropped, the strong growth maintained and the industry is optimistic to reach the output and sales goal of 8 million this year.

Hereunder are the top news this week:

Car sales in China reached over 0.7 million units in Jan and Feb, with an increase of 33.21% year-on-year
 
By Jorvan   From: www.globalautosourcing.com March 12 2007

According to the China Automobile Industry Association's latest monthly statistics, although factors such as the Lunar New Year holidays, cars sales in February dropped more in January but increased year on year. Car sales reached 712,200 units in the first two months, an increase of 33.21% year on year.

The statistics showed that auto sales in February were 417,700 units, down 24.41% than that of the previous month; with a year-on-year increased 2of 0.55%. In all varieties: sedan sales reached 297,800 annually, declined 28.16% than that of the previous month, with an increase of 25.86%; MPV sales were 13,700 units, down 25.34% than that of the previous month, an increase of 14.70%; SUV sales reached 19,200 units, declined 16.52% than that of the previous month, but increased 32.74%; crossover sales reached 87,000 units, declined 10.02% than that of the previous month, but increased 4.21%.
 
In January and February, sales of the top 10 brands were Santana, Excelle, Jetta, Xiali, Camry, Elantra, Family, QQ, Accord and Passat Lingyu.
 
In January and February, car sales of the top 10 enterprises were: Shanghai GM, Shanghai Volkswagen, FAW-VW, Chery, Beijing Hyundai, Geely, Guangzhou Honda, Tianjin FAW, DPCA and Nissan, the top 10 sold 451,200 cars annually in total, accounted for 63.35% of the total market sales.

State Statistical Bureau: 1.38 million units produced in the first two months 
 
By Jorvan   From:www.globalautosourcing.com March 16 2007 
 
In the early days the National Development and Reform Commission has begun to regulate the production structural redundancy, however, the output of vehicle continued to move up. According to statistics released by the Statistics Bureau yesterday, the first two months of this year, China's car output amounted to 1.38 million vehicles, grew by 21.5%, of which 750,000 were sedans, an increase of 29%.

At this rate, it seems it is an inevitable conclusion that production of vehicles this year will reach over eight million.

Auto sales and output saw a slight drop in Feb
 
By Ally   From:www.globalautosourcing.com March 15 2007
 
Sources from China Auto Industry Association said auto sales and output saw a slight drop in the second month.

The top five hot-selling models were Santana, Excelle, Familia, Camry and Elantra, whose sales all exceeded 10,000 units, while Familia climbed to the third from the ninth position the prior month. Hafu, followed by Tucson, was listed the top amongst SUV models; Honda CRV experienced a big increase compared with the previous month. Sales of the top five SUVs, including Hafu, Tucson, Tiggo, Honda CRV and Liebao were 3,752, 2,877, 2,360, 1,900 and 1,330. Altogether 12,200 units of these models were sold in total, accounting for 63.54% of SUV sales in the second month.

As to MPV, Odyssey ranked first as the best-selling model, followed by Refine, BuickGL8, Geniss and Premacy. The five model's sales were 2,843, 2,399, 2,155, 1,111, and 1,035. The five models took 69.71 percent of a total of MPV sales.

China's spare part market development exceeds that of the global level
 
By Jorvan   From:www.globalautosourcing.com March 14 2007 
 
"Due to the ever increasing prices of raw materials in the global market, the spare parts business in North America and Europe are almost in a state of contraction, but the Asia-Pacific region, China in particular, is an exception." Last week, top ten global auto parts giants released 2006 financial results, the turnover of TRW Automotive Holdings Corp. were 13.1 billion U.S. dollars, an increase of 4% over the previous year, the Asia-Pacific Chief Executive Edward. L. Carpenter said: "China's vehicle spare parts market growth rate is no less than 10% of the speed of complete car development.

It is noted that there are 14 manufacturers for TRW in China, In order to further expand the market share in China, TRW will make a strategic investment in Northern China: a spare part plant and a research center. Currently, the TRW Group has established offices in Beijing.

China's auto output and sales in February declined more than that of January
 
By Jorvan   From:www.globalautosourcing.com March 12 2007 
 
The China Automobile Industry Association released the latest statistics on the 9th, due to two major factors: Spring Festival holiday and only 28 days in February, China's car production and sales in February showed some decline compared to the previous months, passenger cars sales dropped slightly higher than that of commercial vehicles.

According to the statistics, in February, compared with the previous month, auto sales and output declined slightly higher. February car sales and output were 570,500 and 553,400 units, a decline of 25.12% and 22.83% more than that of the previous month, while an increase of 7.63% and 14.90% year after year.

Passenger car sales and output reached 420,000 units and 417,700 units annually, declining 26.00% and 24.41% less than that of the previous month, an increase of 10.56% and 20.55% less, year on year. Commercial vehicle sales were 150,500 units and 135,700 units annually, down 22.55% and 17.53% less than the previous month, but increased 0.22% and 0.42% respectively.