This will disappoint those who were hoping for a cooling-off of the Chinese auto market. Chinese automakers in China shipped 1.2m passenger cars to dealers in October, up 27.1 percent from a year earlier, the official China Association of Automobile Manufacturers (CAAM) told Reuters today. Overall vehicle sales, which also include buses and trucks, were 1.54 million units, up 25.5 percent from a year ago. (Read More…)

The worldwide auto industry is officially on the mend. Carmageddon is behind us. The future is bright and shiny. How do I know this? If Rolls Royce can have higher annual sales than in any of the 30 years before, life must be good again. And there still are 2 months to go, with some possible Rollers under some possible Christmas trees. (Read More…)

For decades, car dealers had nightmares about being put out of business by non-car dealers. Cars at Costco? S-Class at Sam’s Club? Except for occasional trials that always flopped, it never happened. As it turns out, not big box stores, but the manufacturers themselves are the dealers’ biggest nightmare. Instead of facing competition that tries to sell cars along with detergent and 2 for the price of 1 peanut butter, car dealers are being culled like mad cows. (Read More…)

It’s a done deal, says Sinocast via Trading Markets. Chen Hong, president of China’s SAIC has gone to the US. He’s not there to visit Niagara Falls and Yosemite. He’s there to negotiate how much of SAIC’s  $5.7b in cash and cash equivalents will be converted into GM stock on November 18. (Read More…)

Audi’s sales in Japan went down 20 percent in October. The macro-oriented crowd points at the fact that the domestic Japanese market was down 26.7 percent in October, and that Audi or its dealers have no reason to complain. And what are Japanese Audi dealers doing? They are complaining. They say that they have enough buyers, but not enough cars to meet the demand.

They all go to China. (Read More…)

One by one, automakers announce that China either is or will be their largest market in the world. First and foremost, there’s  GM. The General officially sells more cars in China than back home (some nitpicking caveats remain.) Volkswagen’s Audi said its China sales are expected to exceed German sales next year. If you want to sell luxury cars, you need to ship them to China. China already is the world’s largest market for the Mercedes-Benz S-Class , and China might soon outclass the Germans in all Mercedes classes. Nobody buys more Porsche Cayennes than the Chinese. With all these records by other makers, BMW can’t possibly remain on the sidelines. (Read More…)

The feared Chinese car exports so far have been a dud. The value of car imports beats exports 3:1. This doesn’t dissuade privately owned Chinese carmakers from trying. They are active at the soft underbelly of the world, in developing or emerging markets of South America and Africa. Now, they are getting a bit closer to Europe. (Read More…)

Except for a lot of green talk, my German compatriots are not known for enthusiastically embracing the EV idea. Japan, even China is way ahead of them. Despite high gasoline costs (taxes, taxes), even hybrids are everything but runaway successes in the Fatherland. If Germans want to save, they buy a Diesel, or take the train. But even the train isn’t the bargain it used to be. One car company bets big on Electric Vehicles. So big, that they built a whole new factory for them. You won’t believe who. (Read More…)

Despite the riproaring profit numbers, there is trouble in Toyota City. The ever appreciating yen is gobbling up ToMoCo’s profits. Message from Toyota to the Japanese government: “Do something, or we leave.” (Read More…)

Did we say „duh“ when GM China announced plans to make more than 2m cars in China this year, the first foreign joint venturer to do so? When they said that, they already had 1,976,913 units in the can, and nobody did doubt that GM would find the 23,087 buyers to reach the 2m. Well, a few days later, they found them. (Read More…)

Australian Caradvice has the riveting story of (Geely-owned) Volvo discontinuing plans of  a large S-Class type sedan that could mix it up with the likes of the Audi A8, the BMW 7er, and of course the Mercedes S-Class, all very much in favor amongst the Chinese rich and not so famous. Cardadvice makes it a fight between Geely CEO Li Shufu, who wanted the big Volvo, and his new hire Stefan Jacoby, whom he had snatched from VWoA to run Volvo, and who doesn’t want a big Volvo. The truth is elsewhere. (Read More…)

When gas peaked in 2008, and carmageddon ensued thereafter, many predicted the end of the world, and if that won’t come to pass, the total extinction of the pickup and SUV genre. Along with that, the demise of the U.S. auto industry was prognosticated, because it supposedly was more dependent on trucks than Robert Downey Jr, on uppers and downers. Conventional wisdom had it that we’d be driving bicycles, midgetmobiles, solar powered EVs, or use public transportation. Pickups? Only at Match.com.

Well guess what, as with all the crises before, it didn’t happen. Actually, the dinosaurs reign supreme. (Read More…)

Want in on GM’s IPO without being a sovereign wealth fund or Goldman Sachs?  Join the BDSM lifestyle for fun and (possible) profit. Buy the very much troubled pre-bankruptcy bond, and you could make out like a banshee. Reuters has the surprising news that bonds issued by GM’s bankrupt predecessor are a good investment. “GM’s 8.375 percent bonds due July 2033, which were issued by old General Motors Corp. and convert to shares in the new GM, rose 0.375 cent to 35.875 cents on the dollar at 4:29 p.m. in New York.” The day before, the bonds had jumped 2.25 cents, the biggest gain since June 14.

Why the sudden interest in the converting bond? (Read More…)

In the politically and emotionally charged discussion whether Chinese interests will buy a chunk of GM in their IPO, one decision appears imminent: Will SAIC, GM’s joint venture partner in China, take the bite or eschew the lure? India’s Economic Times, always with a wary eye on happenings on the other side of the Himalaya, says that “top Chinese automaker SAIC Motor is close to making a decision on whether to buy a stake in its long-time partner General Motors as the US auto firm goes public.” (Read More…)

Wasn’t BYD the miraculous Chinese company that would bring electric cars to the masses? Weren’t they supposed to go hundreds of miles on a single charge?  Forget about it. So far, their electric cars are being tested as taxis in Shenzhen in low numbers. What if you would be crazy enough to buy one yourself? They won’t sell you one. (Read More…)