Post Tagged with: "china auto industry"

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Guangzhou Auto’s 2012 profit down 70-80 percent

Guangzhou Auto’s 2012 profit down 70-80 percent

Guangzhou Automobile Group, one of China’s big state-owned auto companies, announced it expects its 2012 net profit to decline by 70 to 80 percent from a year earlier. “The estimated results have not been audited by any certified accountants,” reads the statement cited by Reuters, adding that the figures represent […]

Johnson Controls plans 10 new seating plants in China

Johnson Controls plans 10 new seating plants in China

Johnson Controls has announced plans to build 10 more auto seating plants in China within five years as part of the company’s strategy to continue its growth in the world’s largest car market. The strong expansion in China and the slow expansion in North America will help Johnson Controls offset […]

BMW China CEO to step down at the beginning of next year, report says

BMW China CEO to step down at the beginning of next year, report says

BMW China president and CEO Christoph Stark will officially announce his retirement this weekend, according to Economic Observer News. The weekly newspaper quoted internal sources according to which Christoph Stark will continue to assume his post until the beginning of next year, when his replacement will be announced. BMW is […]

First Audi Q3 rolls off the assembly line in China

First Audi Q3 rolls off the assembly line in China

The first Audi Q3 today rolled off the assembly line of the brand’s new Foshan plant in China. Until now, the Audi Q3 small SUV has been imported into China from Europe. This is why the Q3 retails for roughly the same price as the larger Q5, which is built […]

Chinese carmaker BYD expects profit to fall 98 percent this year

Chinese carmaker BYD expects profit to fall 98 percent this year

Chinese automaker BYD said profit may fall as much as 98 percent this year because of the bad economy. The slowing economy affects demand for BYD cars, batteries and solar-energy cells, said the carmaker, which is owned by Warren Buffett’s Berkshire Hathaway investment fund. BYD estimates net income for the […]

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Toyota idling its largest Chinese plant for a week

Toyota idling its largest Chinese plant for a week

Two of the three production lines at Tianjin FAW Toyota Motor, a joint venture between Toyota Motor and China’s FAW Group, will be closed for a week from October 22. The decision will affect production of the Toyota Crown and Reiz models. According to Japan’s Nikkei business daily, the remaining […]

Toyota to resume production in China on Monday

Toyota to resume production in China on Monday

Toyota Motor Corporation announced that it will resume operations on Monday at all nine of its plants in China, after the carmaker halted production in response to anti-Japan demonstrations. A Toyota spokesman said some plants halted operations this week, but he declined to specify which plants. As protests have eased […]

Volvo closes in on China manufacturing plans

Volvo closes in on China manufacturing plans

Volvo’s plans of manufacturing vehicles in China may soon become reality, according to Chinese media. The Nanfang Metropolis Daily wrote that Volvo’s approvals are going as planned. “Volvo’s applications for domestically producing vehicles are going smoothly. There is no need to worry”, Ning Shuyong, assistant head of public relations for […]

VW may build transmission plant in China

VW may build transmission plant in China

Volkswagen AG may build a transmission plant in Tianjin, China, a source familiar with the matter told German newspaper Frankfurter Allgemeine Zeitung. The new facility is part of a plan the German carmaker has to expand capacity in its biggest market. The new manufacturing plant is expected to start production […]

SAIC sold 4 million vehicles in 2011

SAIC sold 4 million vehicles in 2011

Shanghai Automotive Industry Corporation (SAIC) sold 4.01 million vehicles this year, up 11.9 percent over a year ago, China’s Xinhua news agency reported on Friday. In November, SAIC reported a 13.3 percent increase in vehicle sales compared to the same month last year to 359,384 units. Sales growth in China […]