Chinese auto buyers avoided buying Japanese car brands last month, plunging auto sales down as much as 41 percent as the political protests over the territorial dispute of the Diaoyu Islands continue to heat up.
Showing posts with label cars. Show all posts
Showing posts with label cars. Show all posts
Friday, October 12, 2012
Sales plunge as Chinese buyers avoid Japanese cars
Chinese auto buyers avoided buying Japanese car brands last month, plunging auto sales down as much as 41 percent as the political protests over the territorial dispute of the Diaoyu Islands continue to heat up.
Monday, May 28, 2012
Cash for clunkers program in China
May 28 (Reuters) - The government of China will soon resume paying subsidies to rural residents who trade in old vehicles for new, fuel efficient ones in an effort to rekindle demand amid a slowdown in the world's largest auto market, a government official told Reuters on Monday.
article
article
Wednesday, January 13, 2010
Warren Buffett loves Chinese Cars
Warren Buffett's Chinese Cars Will Start Killing The US Auto Industry As Soon As This Year Vincent Fernando
Jan. 13, 2010, 7:12 AM
BYD, the upstart Chinese electric car maker Warren Buffett famously has an investment in, is planning enter the U.S. market as soon as the second half of this year.
Considering the U.S. market entrance by multiple new auto players (from Chinese firms BYD and Geely, to India's Tata and even U.S. upstart Tesla Motors) expect auto industry competition to get far more intense than it already is.
Tuesday, June 2, 2009
NYTimes: Chinese Company Said to Be Buyer of Hummer
GUANGZHOU, China — General Motors has reached a preliminary agreement for the sale of its Hummer brand of large sport utility vehicles and pickup trucks to a machinery company in western China with ambitions to become a carmaker, a person familiar with the Chinese government approval process said Tuesday.read>>> NY Times article
Wednesday, July 4, 2007
Chery and Chrysler Group Finalize Cooperative Agreement
Chery and Chrysler Group forge new model of international cooperation
CHRYSLER PRESS RELEASE
BEIJING, July 3 /PRNewswire-FirstCall/ -- Chrysler Group President and CEO Tom LaSorda joined Chery Automobile Co. Chairman and President Yin Tongyue today to finalize the highly anticipated cooperative agreement between the two automakers.
Chinese governmental authorities from the State Development and Reform Commission officially approved the agreement and marked the occasion by hosting a first-of-its-kind signing event. The ceremony was held at Beijing's Diaoyutai State Guesthouse.
Under the agreement, Chery, based in Wuhu, Anhui Province, China and Chrysler, based in Auburn Hills, Michigan, USA will work together to develop, manufacture and distribute Chery-made small and sub-compact cars in North America, Europe and other major automotive markets under the Chrysler Group brands.
"This is a win-win for both of our companies, and I am confident this will be a successful relationship," said Yin. "Chrysler brands are very well known in the U.S. and Europe. We're prepared to work with Chrysler Group to expand their small-vehicle lineup with competitive products and accelerate both our companies' international competitiveness."
Chrysler will identify several small-car models now being developed by Chery in China and work collaboratively to make any necessary branding and regulatory modifications prior to their entry into other markets. Both companies also will jointly develop new globally competitive products based on future Chery small-car platforms.
Strategic growth in international markets - while defending market share in North America - is an important part of Chrysler Group's Recovery and Transformation Plan.
"This is the start of a very long relationship between Chrysler and Chery," said LaSorda. "Chery's participation in this agreement and their focus on small and sub-compact cars will have a nearly immediate effect on Chrysler Group's offerings in the small-vehicle segments. This strategic partnership is part of a new business model that is allowing us to introduce all-new products more quickly, with less capital spending."
Today's announcement is not the first milestone for Chrysler in China. Chrysler's relationship with China began 25 years ago when it formed Beijing Jeep Corp., the first international automotive joint venture in the country.
The DaimlerChrysler Supervisory Board approved the framework for the Agreement earlier this year.
Profile of Chery Automobile Co., Ltd.
Since the foundation of Chery in 1997, Chery has always been pursuing independent innovation, after ten years development, Chery now is endowed with systematic new products research and development, manufacture and sales. Its products have been sold to more than 50 countries and regions, and it has become the pacesetter of Chinese independent auto brands with its average annual growing rate at 169%.
Profile of Chrysler Group
The Chrysler Group is the Auburn, Hills, Michigan-based unit of DaimlerChrysler AG. Employing more than 84,000 people worldwide, Chrysler Group designs, manufactures, markets, distributes and - through its Chrysler, Jeep and Dodge dealers - sells cars, trucks, minivans and sport-utility vehicles to customers in more than 125 countries worldwide. Its brands feature some of the world's most recognizable vehicles, including the Dodge Viper, Jeep Wrangler, Chrysler PT Cruiser and Chrysler 300C. In 2006, Chrysler Group sold 2.8 million vehicles globally.
Website: http://www.media.daimlerchrysler.com/
Website: http://www.daimlerchrysler.com/
update:::
General Motors noticed that the brand name used by Chinese automaker looks an awfully like Chevy. Chery Automotive has big plans with Malcolm Bricklin at the helm in the U.S. but GM has threatened Chery with legal action if it uses the brand name in the America. Bricklin told the Financial Times that he would use the name anyway. GM already slapped Chery with a lawsuit over intellectual property stating the Chery QQ is a direct copy of the GM-Daewoo Matiz sold in China as the Chevy Spark. Chevy. Chery.
CHRYSLER PRESS RELEASE
BEIJING, July 3 /PRNewswire-FirstCall/ -- Chrysler Group President and CEO Tom LaSorda joined Chery Automobile Co. Chairman and President Yin Tongyue today to finalize the highly anticipated cooperative agreement between the two automakers.
Chinese governmental authorities from the State Development and Reform Commission officially approved the agreement and marked the occasion by hosting a first-of-its-kind signing event. The ceremony was held at Beijing's Diaoyutai State Guesthouse.
Under the agreement, Chery, based in Wuhu, Anhui Province, China and Chrysler, based in Auburn Hills, Michigan, USA will work together to develop, manufacture and distribute Chery-made small and sub-compact cars in North America, Europe and other major automotive markets under the Chrysler Group brands.
"This is a win-win for both of our companies, and I am confident this will be a successful relationship," said Yin. "Chrysler brands are very well known in the U.S. and Europe. We're prepared to work with Chrysler Group to expand their small-vehicle lineup with competitive products and accelerate both our companies' international competitiveness."
Chrysler will identify several small-car models now being developed by Chery in China and work collaboratively to make any necessary branding and regulatory modifications prior to their entry into other markets. Both companies also will jointly develop new globally competitive products based on future Chery small-car platforms.
Strategic growth in international markets - while defending market share in North America - is an important part of Chrysler Group's Recovery and Transformation Plan.
"This is the start of a very long relationship between Chrysler and Chery," said LaSorda. "Chery's participation in this agreement and their focus on small and sub-compact cars will have a nearly immediate effect on Chrysler Group's offerings in the small-vehicle segments. This strategic partnership is part of a new business model that is allowing us to introduce all-new products more quickly, with less capital spending."
Today's announcement is not the first milestone for Chrysler in China. Chrysler's relationship with China began 25 years ago when it formed Beijing Jeep Corp., the first international automotive joint venture in the country.
The DaimlerChrysler Supervisory Board approved the framework for the Agreement earlier this year.
Profile of Chery Automobile Co., Ltd.
Since the foundation of Chery in 1997, Chery has always been pursuing independent innovation, after ten years development, Chery now is endowed with systematic new products research and development, manufacture and sales. Its products have been sold to more than 50 countries and regions, and it has become the pacesetter of Chinese independent auto brands with its average annual growing rate at 169%.
Profile of Chrysler Group
The Chrysler Group is the Auburn, Hills, Michigan-based unit of DaimlerChrysler AG. Employing more than 84,000 people worldwide, Chrysler Group designs, manufactures, markets, distributes and - through its Chrysler, Jeep and Dodge dealers - sells cars, trucks, minivans and sport-utility vehicles to customers in more than 125 countries worldwide. Its brands feature some of the world's most recognizable vehicles, including the Dodge Viper, Jeep Wrangler, Chrysler PT Cruiser and Chrysler 300C. In 2006, Chrysler Group sold 2.8 million vehicles globally.
Website: http://www.media.daimlerchrysler.com/
Website: http://www.daimlerchrysler.com/
update:::
General Motors noticed that the brand name used by Chinese automaker looks an awfully like Chevy. Chery Automotive has big plans with Malcolm Bricklin at the helm in the U.S. but GM has threatened Chery with legal action if it uses the brand name in the America. Bricklin told the Financial Times that he would use the name anyway. GM already slapped Chery with a lawsuit over intellectual property stating the Chery QQ is a direct copy of the GM-Daewoo Matiz sold in China as the Chevy Spark. Chevy. Chery.
Saturday, June 16, 2007
Chinese Cars to be Manufactured in Tijuana, Mexico
UNION-TRIBUNE STAFF WRITER
Chamco Automotive, a company set up to import Chinese vehicles to the United States, will open a $300 million Tijuana assembly plant in 2009 that will produce the vehicles of Hebei Zhongxing Automobile.
China, by locating in Mexico can now take full advantage of NAFTA, bypassing any import duties to the USA.Lou Dobbs segment:
"Communist China is also, well, now exploiting a gapping loophole in that wonderful trade arrangement called NAFTA. Are you ready? One of China’s largest car makers is about to build an assembly plant in Tijuana, Mexico, the purpose? To build and export vehicles into the United States. And it will be duty-free."
full Lou Dobbs transcript
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