China car industry forecast 2012-2013, :Following record growth in 2009 and 2010 that saw it emerge as the world's top car market, China's car sector stalled last year. The slowdown came after the government rolled back auto-purchase incentives and some cities imposed tough driving restrictions to ease traffic congestion and pollution. Sales rose just 2.5 percent in 2011, slowing dramatically from 32 percent growth in 2010, to reach 18.51 million units. Passenger-car sales grew 5.2 percent, Beijing also earlier this year said it was withdrawing some support for foreign investment in the sector while seeking to further cement cooperation between foreign carmakers and their Chinese partners.
Foreign carmakers have long been required to set up operations in joint ventures with Chinese companies. The government is now pushing such ventures to create more local brands specifically for China's market.
After 20 years of opening up the industry to foreign carmakers the government drew up a balance sheet and noticed that transfer of technology remained limited.
General Motors, China's market leader, launched the first "indigenous" brand - the Baojun - with its joint venture partner Shanghai Automotive Industry Corp during last year's version of the auto show, which took place in Shanghai.
Japan's Nissan, meanwhile, has announced plans to market a car line powered entirely by electricity - the Venucia - made in cooperation with Chinese carmaker Dongfeng.
China's car industry has a unique opportunity to seize, as the centre of gravity for the industry is shifting towards emerging economies, China must increase its capacity to innovate.
But analysts warn the local joint-venture models could also pose a further challenge to the sales of Chinese carmakers.
Wholly Chinese manufacturers hold just 30 percent of their home country's market and most are losing ground or just treading water against international makes, which enjoy better brand recognition and quality reputations.
Analysts say the difficulties at home could drive Chinese carmakers to seek opportunities in overseas markets, including in Europe, where Great Wall Motors has already started producing cars.
China will be in a position to launch a vast overseas offensive, China has always looked to acquire new technologies before exporting them, Chinese carmakers already are selling and producing cars in Africa, India and Southeast Asia.
China Passenger Car Sales Tumble 24% on Earlier-Than-Usual Lunar New Year
China’s monthly passenger-vehicle deliveries fell the most in more than seven years after an earlier-than-usual Lunar New Year holiday season deprived dealers of a week’s worth of sales. Deliveries of passenger automobiles, including multipurpose and sport-utility vehicles, dropped 24 percent from a year earlier to 1.16 million units last month, the China Association of Automobile Manufacturers said yesterday in a statement. Sales were projected to drop 18 percent, according to the median of a Bloomberg News survey of five analysts who predicted declines ranging from 8.5 percent to 30 percent. Read More
Volvo says it plans to more than double vehicle models in China
Beijing: Volvo Car Corp, the Swedish carmaker owned by China's Zhejiang Geely Holding Group Co., said it plans to more than double its number of models to compete with Volkswagen AG's Audi and BMW AG in the world's largest automobile market. , The new models are part of Geely's plans to double sales to 800,000 cars globally in 10 years. Volvo, ranked fifth in luxury-car sales in China, intends to invest as much as $11 billion globally by 2016 to meet its expansion plans, Volvo Chief Executive Officer Stefan Jacoby said last year. Read More
China's car market matures after ultra-fast growth
After all, only about 3% of the Chinese population owns a car currently, compared with 80% in the United States.Many in the industry predict the Chinese market, which is already the world's largest, to require 30 million vehicles per year by 2020 - compared with 18.5 million sold last year. Last year, sales grew just 2.5% to about 18.5 million vehicles, after surging by 35% during 2010. This year the market is expected to grow about 5%.Read More
Ford plans $760m assembly plant in east China
Ford Motor Co. plans to build a $760 million auto assembly plant in the eastern Chinese city of Hangzhou, part of a doubling of its production capacity in the world’s biggest vehicle market as it strives to catch up with rivals.The investment in the factory with joint-venture partner Changan Ford Mazda Automobile Limited will add annual capacity of 250,000 vehicles when it begins operations in early 2015, the company said Thursday.Read More
General Motors To Buy Stake in Chinese partner
General Motors is about to buy back the one percent stake in Shanghai GM joint venture in China with Shanghai Automotive Industry Corporation (SAIC) that GM previously sold during financial crisis. The buyback of the one percent stake, which was sold at $85 million back in 2010, would allow 50-50 split in operation. Meanwhile, SAIC would maintain a 51 percent share in the sales side of the joint venture. The agreement is now awaiting government approval. Reuters reported that the buyback costs was not disclosed.Read More
Audi Aims for Record Sales in China and U.S.
German luxury-car maker Audi AG is hopeful of selling 700,000 cars a year in China later this decade and aims to sell more than 130,000 cars in the U.S. for the first time this year, as demand for premium vehicles continues to surge.Read More
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