By September 2008, China has nine automakers who have stepped across the threshold of making one million vehicles. The latest member of this “1-million-car club” is Dongfeng Nissan, said xinhuanet.com yesterday.
Dongfeng Nissan, a joint venture between Dongfeng Motor Corp and Japan’s Nissan Motor Co, celebrated its 1 millionth car rollout on September 19 in its [...]
PSA Peugeot Citroen said yesterday its sourcing of car components from China would more than triple within two years, joining in the slew of overseas car makers to add China as their global sourcing base.
Europe’s second biggest car maker would buy 8 billion yuan (US$1.03 billion) worth of auto parts from China by 2010, compared [...]
Zhejiang Geely Holdings Group has cut its sales growth from 30 percent to 20 percent this year, Chairman Li Shufu said, adding that it will stop making cars costing less than 40,000 yuan (US$5,882).
China’s largest privately owned car maker attributed the slower growth to rising material costs and a tough economic environment.
Tags: Auto, car-maker, Geely
SAIC Motor Corp yesterday opened a 150,000-unit production facility in Shanghai as part of an effort to lead China’s self-branded vehicle market.
The 1.2 million-square-meter factory is located in Lingang Industrial Zone, 75 kilometers south of downtown Shanghai, and cost 2.9 billion yuan (US$424.2 million), said Chen Zhixin, executive vice president of SAIC Motor. The first [...]
The unexpected sales dip in China’s auto market has prompted car makers to join a new round of price wars across all market segments.
The return of the price wars has ended an upswing in car prices since the beginning of this year, triggered largely by soaring raw material costs.
Market observers yesterday said they remained skeptical [...]
Chinese car maker Geely Automobile Holdings Ltd will not cut prices this year despite slower growth in the country, the world’s second-largest automobile market, its top executive said on Wednesday.
Geely is also confident it can achieve its sales target of 230,000 units in 2008, a rise of 27 percent from last year, despite a weak [...]
