Short news automotive
October 24, 2013 Category Automotive Metals & Minerals, Short news automotive
- Ford’s Asia-Pacific President David Schoch said China’s top seller of SUVs – Great Wall Motor – is the one company to watch. He made the remarks at Ford’s headquarters in Dearborn, Michigan. “They seem to be coming up with good designs and quality, and they’ve started to export.” Great Wall Chairman Wei Jianjun has signaled Great Wall will eventually outsell Chrysler’s Jeep globally and wants to double sales over three years to 1.3 million vehicles by 2015. Ford is on a growth path of its own in China and expects to double its quarterly market share in less than two years.
- China’s auto market expanded 19.7% in September to 1.94 million passenger cars and commercial vehicles, helped partly by a huge gain for Japanese carmakers, according to the China Association of Automobile Manufacturers (CAAM). The year-on-year growth was the highest since January when the annual comparison was skewed by the week-long shutdown of showrooms during the Lunar New Year holiday that fell in January last year but February this year. On an annual basis, Japanese car brands scored the biggest gain in the passenger car segment last month and took 17.5% of the market.
- Shanghai car plate prices rose for the first time in seven months at the October auction, after a price ceiling on first-round bids was removed. The average price was CNY83,723, said auction organizer Shanghai International Commodity Auction Co, up CNY10,231 – just under 14% – on last month. The price ceiling is now only triggered by price hikes of between 3% and 6%. A spike of more than 6% will result in a two-month imposition. For the next two months the upward limit will be set at CNY74,900 – the weighted average of prices in September, August and July. 10,000 plates were auctioned this month, 1,000 more than usual, and the number of auction participants dropped 18% to 28,887.
- The auto industry has mixed views on the possible impact of the opening of the free trade zone (FTZ) in Shanghai. “The most likely influence on the auto industry will be to boost exports,” Industry Analyst Zhang Zhiyong said. Gu Feng, CFO of SAIC Motor Corp, added that “the zone can help cut operating costs and offer a better investment and financing channel.” SAIC’s subsidiary in the zone is expected to help cut export costs by 20% due to the zone’s preferential policies. The company will transfer its import and export operations to the zone.
- The biggest-ever Wuhan Motor Show was held this month. First created in 1995, the show is in its 14th year and has established its name as the most influential and attractive auto event in the central region. The six-day exhibition this year closed on October 23, by which time it is expected to have drawn 400,000 visitors. About 300 exhibitors showcased some 600 models. Total annual production capacity of automobiles in Wuhan is expected to reach 3 million units in three to five years.
- Dongfeng’s new-energy vehicle plant recently broke ground in Wuhan. With a planned annual production of 160,000 units and first-phase investment of CNY2.4 billion, the facility is scheduled to be operational by the end of 2014. The plant is expected to strengthen the automaker’s capability in innovation on new-energy vehicles, said Zhu Fushou, General Manager of Dongfeng Motor Corp. Dongfeng plans to have an output of 100,000 heavy-duty hybrids by 2015 and by 2020 will have energy-saving and new-energy vehicles that compete with conventional vehicles.
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