Chinese, foreign autos both speeding in China -- Business -- People's Daily Online
Chinese, foreign autos both speeding in China - Special

08:41, August 04, 2009

China becomes world's biggest auto maker and market

Driven by the stimulus package for auto consumption by Chinese government, China's auto sales increased by 18 percent, maing it the world's largest auto producer with the world's largest auto market.

China market is growth hope for multinational auto giants
All of them had negative global earnings but enjoyed good performances in China.

Multinational auto giants gear up to exploit potential of Chinese market
Multinational carmakers are investing more in their China operations while struggling elsewhere.

· China unveils support package to auto industry

The government has lowered the purchase tax on cars under 1.6 liters in a bid to stimulate sales and increased subsidies for people to scrap their old cars.

· China details auto stimulus plan for rural residents

Farmers who buy light trucks and minivans would get a 10 percent discount, with the ceiling subsidies of 5,000 yuan, said the Ministry of Finance.

· New energy vehicle pilot programs promoted in 13 Chinese cities

The central government will offer one-time fixed-amount subsidies for purchases of energy conservation and new energy vehicles in 13 pilot cities. These will include hybrid, all-electric and fuel-cell vehicles.

· China top political adviser urges more support for alternative fuel vehicles

"Alternative fuel vehicles represent the future of the car industry." Such vehicles would improve the environment, reduce the impact of the financial crisis and trigger new technologies.

· Buffett's gamble pays off as BYD catches market fancy

Warren Buffett's Berkshire Hathaway Inc earned a $1 billion paper profit from an investment it agreed to make in BYD Co., a Chinese hybrid carmaker, on Sep. 27, 2008. The investment may help BYD boost its profile overseas and also reassure potential customers.

· Chinese-brand cars take largest domestic market share

In the first half of 2009, Chinese-brand car sales reached 955,300, an increase of 4.21 percentage points year-on-year. Chinese-brand cars have consistently secured the largest domestic market share.

· China's auto sales edge past 6 mln in H1,to hit 11 mln in the whole 2009
· Multinational auto giants seize "Chinese opportunity" amid financial crisis

"The Chinese government is taking proactive measures to tackle the situation… Its entire market will recover within a very short period of time, and will maintain an upward trend."

· Who will lead in the post-GM era?
· Local brands dominate environmentally-friendly and new energy auto markets in China

Sales of Chinese-brand vehicles with 1.6-liter engines and below accounted for over 80 percent of total Chinese-brand vehicle sales, according to the 2009 China automotive industry annual report.

· China's new energy vehicles head for the world

From the delivery and use of the thirty Foton Euro-V hybrid buses in Guangzhou at the beginning of 2008, to the launch of BYD dual-mode F3DM electric sedan and the establishment of the Beijing New Energy Auto Design and Manufacture Base at the end of 2008, China's new energy vehicle sector were already stepping up to the forefront of the world.

· Automakers steer new energy cars for growth

Over 30 Chinese automakers are involved in the development of new energy cars, including Chery, Geely, BYD and Dongfeng. The government has strengthened its efforts to support new energy cars, and favorable policies to boost consumption of "green cars" have been initiated in many cities.

· China should not overestimate new-energy vehicles: experts

As China's automakers accelerate development of hybrid and electric vehicles, experts and industry insiders say more attention should be paid to researching energy-saving technologies for conventional vehicles.

· Chinese automakers heavily invest in new energy vehicles
· Chonqing energy-saving, new energy auto industry alliance established
· What can China's auto industry learn from GM's bankruptcy?
· Economic crisis offers chances for Chinese cars entering West Europe

European countries have encouraged the purchase of low-emission cars, which is "favorable" for Chinese automakers. "At least, the chances are bigger than before."

· China's Beiqi Foton to set up assembling plant in Indonesia

Foton's investment in Indonesia would be a production base for Foton's market in the region. It is "part of Foton's global business strategy.

· China's Lifan gear up for emerging Philippine market
· China's Geely acquires Australian auto parts supplier

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