End of last year, we reported that the Chinese government was publicly thinking about new regulations to shift a large chunk of cars bought by the government to home-grown brands. We are talking about a serious amount of money here. The government is the biggest customer of cars in China, with an annual budget of around $15b. Government purchases influence the whole market. To buy Chinese. Read More >
Like it or not, more and more car makers elect to premiere their newest creations not at the IAA in Frankfurt, or the Detroit Auto Show, but in China. What do you expect with China being the world’s largest car market, and growing like gangbusters. TTAC will cover the Beijing Auto Show on press days of April 23 and 24. With daily posts, helped by the fact that China is not only ahead in sales, it’s also 12 hours ahead of the East Coast.
Here is a short random preview, gleaned from various posts on Chinese websites. Read More >
It seems like the Chinese government is getting worried a bit about what Greenspan would have called „irrational exuberance“ in the Chinese auto market. If Greenspan would have worked for the Chinese. Would have been interesting. Anyway … Read More >
As my revered colleagues at China Car Times rightly remark, “March is the first full month of car sales after the Chinese New Year where the majority of dealerships are closed for around two weeks, thus stunting growth of that month, but March is always a very busy month with many customers flush with cash after the New Year.” That’s why everybody who knows the Chinese car industry has a sharp eye on the March numbers. And that’s why everybody gasped when total vehicle sales in China climbed 55.79 percent from March a year earlier. Something else happened. A revolution. Read More >
Remember the Geely GE, the poster child for Chinese auto styling theft? It’s been updated for the upcoming Beijing Auto Show, and trust us, it doesn’t look like a Rolls-Royce copy anymore…
Western auto makers in distress are in the cross-hairs of Chinese auto makers that are riding one of the largest car booms in history. When Geely closed its deal with Ford over Volvo, we wrote: “Government owned companies like FAW, SAIC, Dongfeng, or BAIC will watch closely how privately owned Geely will digest the Volvo purchase. If successful, western car companies will be on their shopping list again.” They already are. Read More >
Our oracle of Shanghai, Kevin Wale, president and managing director for GM’s China operations, is chickening out. “Anything is possible in China. We are very bullish about future potential here,” he said. And then he predicted that GM China will sell 2m vehicles this year, China Daily reports. Why is that chickening out, you ask? Read More >
The Chinese government has been getting serious about controlling the emission and consumption of its rapidly growing fleet. Local manufacturers such as BYD and foreign joint venture partners are quick to rise to the occasion. Toyota’s Chinese joint venture with Guangzhou Automobile launched today a hybrid version of the Camry. The Camry is well liked in China, more than half a million of the non-hybrid version have been sold in China between its launch there in June 2006 and the end of February 2010. The hybrid Camry Hybrid won’t come cheap. Read More >
Friday’s announcement of mindblowing Chinese sales numbers must have had an effect on the minds of the reporting profession, as evidenced by a quick read of the news. They are all over the landscape. Read More >
No big deal in China is done until it’s signed and sealed – by the Chinese government. In the case of Volvo, there won’t be any Hummeresque killing me softly. Geely’s deal to buy Volvo from Ford, reached last month, will be waved through the (necessary) approval process. Read More >
China’s SAIC is basking in the glow of another bang-up quarter. China’s biggest automaker told Reuters that their first-quarter net profit rose more than four times from the year-ago result. Detailed numbers will be released with SAIC’s full first-quarter earnings report on April 28. Keep in mind that last year’s results already were 9 times those of 2008. In March, SAIC sold 336,387 units, sales for the first quarter were up 64 percent from a year earlier to 891,795 units. To put it into perspective: All of Germany sold 670,410 cars in the first three months of 2010. SAIC singlehandedly outsold Germany by 221,385 units. Read More >
Yesterday, we admitted to the sin of a faulty prognosis: More than a week ago, we had forecasted a March growth rate between 50 and 60 percent for the Chinese auto market. Yesterday, the number came in as 63 percent. Shame on us. However, yesterday’s number was passenger vehicles only. Our patent-pending forecasting model covers all cars. Now, the real number is in. Read More >
Usually, it’s the car manufacturers who complain about fake parts coming from China. In the man-bites-dog equivalent of the parts industry, a Chinese government agency accuses Toyota of trafficking in highly illegal auto parts. Toyota is in deep doo-doo. Read More >
China’s carmakers better get their pure plug-ins ready. The central government is set to spend serious money to electrify development and sales. China Daily reports that “a much-awaited government stimulus plan” is ready for government approval and should be in effect in the next couple of months.
Private buyers in five chosen cities (so far unveiled, but the usual suspects apply) will be able to collect close to $9000 if they buy a pure plug-in. Imports need not apply. Read More >
A week ago, we swam against the trend of China analysts who predicted a 30-40 percent rise in March new car sales in the Middle Kingdom. By using our patent-pending TTAC forecasting methodology, we projected China’s sales rising between 50 and 60 percent in March. The numbers are in. We were wrong. Read More >
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