Chinese auto makers do well in 2010

10:20, January 17, 2011      

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Chery sets monthly record

Domestic automaker Chery Automobile Co sold an all-time monthly record 118,000 cars in December, pushing its full-year delivery to more than 682,000 cars, enabling it to finish the year with a 36 percent rise over 2009.

Though falling short of its target of 700,000 units due to strained capacity, the company maintained its first-place position among domestic brands for the 10th year in a row.

With nearly 92,000 cars shipped overseas in 2010 - up 93 percent from 2009 - Chery also retained its crown as the country's largest car exporter, a rank it has held for eight consecutive years.

Kia sales rise 38 percent

Sino-Korean joint venture Dongfeng Yueda Kia sold more than 333,000 cars last year, up 38 percent over 2009.

More than half the figure came from its mid-sized models Forte and Cerato that together sold more than 180,000 units last year.

Nearly 70,000 Kia Sportage SUVs were sold in 2010.

Supply of the newly launched Sportage R has been unable to meet surging demand, with 11,700 units delivered in less than three months. Its Rio small car also sold more than 44,000 units last year.

FAW prepares to go public

Local press said a personnel adjustment at FAW Group Corp is a step toward establishing a joint stock company and a long-awaited public listing.

The storied auto group - New China's first vehicle maker - recently said it has set up a board of directors with former president Xu Jianyi appointed board chairman and secretary of the Party committee for the company.

In late December, FAW announced that its own-brand car sales in 2010 exceeded 1 million units.

By 2015, the company expects to have a 20 percent share of the overall market and annual sales of 5 million cars, including 2 million own-brand vehicles.

To reach those targets, FAW needs to raise 150 billion yuan in development capital, local media reports.

Geely, Foxconn partnership

China's largest private carmaker Geely is in talks with Taiwan's electronics giant Foxconn about possible development of new energy vehicles, Reuters reported recently.

Geely President Yang Jian noted Foxconn's strengths in electric motors, but did not give details about the likely cooperation, the report said.

Geely sold 415,000 cars last year, up 27 percent from 2009. The company said it expects 2011 sales to increase 16 percent to 480,000 units.

If sales of Volvo - which was acquired by Geely last year - are added, the group's total last year would rise to 800,000 units sold.

Exports recover, still lag 2008

Chinese auto exports continued to recover last year, increasing shipments by 64 percent over the dismal figures of 2009 to 544,900 vehicles, according to China Association of Automobile Manufacturers.

Passenger vehicle exports totaled 282,900 units, surging 89 percent over a year earlier, while commercial vehicle shipments rose 43 percent to 261,900 units.

The volume last year was still 12 percent lower than 2008, a year before the onset of the global economic crisis.

Source: China Daily
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