Gasgoo Daily: China's vehicle inventory alert index in Oct. 2023 grows MoM, but dips YoY

With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.

Yangwang's first sales, service shops put into trial operation

Yangwang, BYD's luxury new energy vehicle brand, said on Monday its first batch of sales and service shops, which are located in the 21 cities like Shanghai, Hangzhou, Shenzhen, Chengdu, and Qingdao, have already gone into trial operation.

Photo credit: Yangwang

China's vehicle inventory alert index in Oct. 2023 grows MoM, but dips YoY

China's vehicle inventory alert index (VIA), which reflects the inventory pressure on automobile dealers, edged up 0.8 percentage points month on month, but dipped 0.4 percentage points year on year to 58.6% in October 2023, according to the China Automobile Dealers Association (CADA).

IAT, Huawei reach consensus on overseas market cooperation

On October 30, 2023, Mr. Chi Linchun, President of Marketing and Sales at Huawei's Intelligent Automotive Solution business unit, led a team on a visit to IAT Automobile Technology Co., Ltd.'s, a Chinese auto design company. The two parties engaged in in-depth discussions and exchanges on intelligent automotive technology and reached a consensus on embarking on cooperation in overseas market expansion, according to IAT’s press release. In the future, the duo will collaborate to explore and share technological innovations in the field of automotive intelligence.

Great Wall Motor's Poer pickup rolls off line in Ecuador's CKD factory

On October 26, Chinese legacy automaker Great Wall Motor saw the inaugural CKD Poer pickup truck roll off line at the automaker’s CIAUTO factory in Ecuador.

Ningbo Tuopu Group boasts 32.13% YoY jump in Q1-Q3 net profit

On October 31, Chinese auto parts supplier Ningbo Tuopu Group released its third quarter (Q3) report for 2023, with a quarterly revenue of 4.991 billion yuan, marking a 15.82% year-on-year increase.

Geely Galaxy E8 pure-electric sedan makes world premiere

On October 30, Geely's new energy vehicle range, Galaxy, unveiled its third model, the Galaxy E8 pure-electric sedan, to global audiences.

Refreshed VOYAH Dreamer MPV nabs over 18,000 orders in 18 days

VOYAH, the premium new energy vehicle brand under Dongfeng Motor, announced on October 30 its refreshed VOYAH Dreamer MPV model bagged over 18,000 vehicle orders in just 18 days since its market launch on October 12.

Dongfeng AEOLUS' SKY EV01 all-electric SUV hits market, starting at 121,900 yuan

Dongfeng AEOLUS, the passenger vehicle brand under Dongfeng Motor, officially put its inaugural all-electric SUV built on the exclusive Mach-E aluminum lightweight platform, the SKY EV01, onto the market on October 30.

JAC Group turns loss to profit in Q3 2023

On October 27, 2023, Chinese automaker JAC Group unveiled its third-quarter (Q3) financial report for 2023, showcasing year-on-year growth in both revenue and profitability.

BYD scores 2-digit YoY leap in Q3 2023 revenue, net profit

BYD Company Limited ("BYD") released its latest quarterly financial results on Monday, showing a remarkable two-digit year-on-year growth in both revenue and net profit for the third quarter of 2023 (Q3 2023).

NIO, Baolong Automotive forge comprehensive partnership

Chinese new energy vehicle maker NIO and auto parts supplier Baolong Automotive recently inked a strategic partnership agreement, according to a press release Baolong issued on its WeChat account on Monday.