|
|
Editor's note: China is witnessing more high-end auto makers investing in research and development and production targeting Chinese customers. The rising numbers of wealthy Chinese consumers is attracting more visits from top auto executives and more world premieres of new cars.
Daimler AG to invest 3b euros over 5 yrs German automaker Daimler AG intends to invest 3 billion euros (nearly $4.2 billion) to leap forward in the Chinese market.The investment over five years is Daimler's largest in an overseas market and at least triple what it has put into China so far, the company said. In return, Daimler aims to sell 300,000 cars annually in China by the end of 2015. [Full story] Jaguar, Land Rover in talks with Great Wall Motor for tie-up An executive from Great Wall Motor Co Ltd (GWM) said his company is engaged in discussion with Tata Motor's Jaguar and Land Rover unit. The two companies may cooperate on business in the future. "Senior executives of Jaguar and Land Rover came and visited the GWM plant on Feb 14, but the final decision of a potential tie-up has not been reached yet," said a GWM senior executive. [Full story] Bentley eyes growing ranks of ultra-rich Bentley board member for sales and marketing Alasdair Stewart said the company has significant plans to further build the brand and expand distribution in China. He said the company will add dealerships this year in Wenzhou of Zhejiang, Zhengzhou in Henan, Erdos in Inner Mongolia, Xi'an in Shaanxi and Taiyuan in Shanxi. [Full story] Audi: Localization to meet 1m sales targets Audi AG plans to further localize production to meet the 1 million unit sales target in China over the next three years. Dominique Boesch, general manager of Audi Sales Division, said Audi will produce new models in China "more speedily". [Full story]
|
|
Lamborghini gets jump start in high-end sector The Italian luxury sports car brand plans to increase investment in China during the next few years to consolidate its success. [Full story] |
|
Two types of people will buy Bugattis: One is a collector who will have many cars including the top two-door sports cars. The other is the very rich who does not know too much about cars, and most of the Chinese super-rich belong to this group. [Full story]
Driving force for luxury cars Daimler's Maybach said that the two exhibited Maybach "Shanghai 2011" Special Edition cars were ordered on the first day of the Auto Shanghai 2011. The price of the Maybach 62 S "Shanghai 2011" Special Edition, more expensive than the other version, is 13.88 million yuan. [Full story]
Luxury car sales hot at Shanghai Auto Show Aston Martin said it made five of its One-77 model cars available for the China market at 47 million yuan ($7.19 million) and they were all ordered before the show opened. Bentley said the company received orders for 60 units during the show, mainly at a price of 4 million yuan. The annual sales target for the region in 2011 is 300 units. [Full story]
Ferrari to gear up and drive sales The Italian sports car brand Ferrari expects China will be its second-biggest market in the near future, and sees potential in the country's growing new rich and the robust economy, said CEO Amedeo Felisa. [Full story]
Porsche sales racing ahead Porsche China moved more than 7,200 cars in the first four months this year, already more than half of its tally in the nation last year. Last year, more than 13,800 of its cars were sold in the mainland, growth of 60 percent over 2009. [Full story]
Jaguar, Land Rover both saw blistering growth British luxury icons Jaguar and Land Rover registered blistering growth in 2010 as both brands set new sales records in China. Deliveries of Jaguar increased 50 percent to 2,655 units last year while sales of Land Rover more than doubled to 23,459 units. [Full story]
Mercedes China car sales to rise over 20% Sales of Mercedes Benz cars in China will likely rise more than 20 percent year on year in 2011, outpacing the overall market, a senior Daimler AG executive said in April. In the first quarter, Daimler AG sold 43,990 Mercedes-Benz cars in China, up 86 percent from a year earlier. [Full story]
Car sales in smaller cities to drive growth |
Craze for luxury cars in China According to HIS Automotive, 727,227 high-end cars were in use in China last year. The figure is expected to reach 909,946 this year, and 1.6 million in 2015. [Full story]
Pangda to invest in Spyker Spyker Cars NV, the Dutch supercar maker, said China's Pangda Automobile Trade Co agreed to invest in the company, four days after a deal with Hawtai Motor Group collapsed. Pangda will take a 24 percent stake in Spyker for 65 million euros ($92 million) at 4.19 euros a share. [Full story]
Models gear up car sales A nationwide model agency's car model business has grown more than 30 percent annually over the past few years. "The cars are dead but models alive. Their beauty and performance breathe life and color into a static car." [Full story]
1,552 Jaguar XF/XK to be recalled The recall, starting June 6, involves 1,550 XF automobiles manufactured between September 2009 and March 2010 and only two XK cars produced between August 2009 and March 2010. [Full story]
Volvo recalls 2,337 imported cars The recall affects 280 imported XC60 vehicles and 318 imported S60 autos manufactured between Jan 20 and Jan 28, 2011, as well as 1,739 imported XC90 vehicles manufactured between Jan 29 and Aug 16, 2010. [Full story]
More than 4,000 Volvo cars recalled in China Michelin drives up investment in China Most of my clients are children of rich parents involved in investment, real estate or energy businesses." - Zhou Juan, a Ferrari sales in Beijing. ...so how do you expect (young people) to really understand sports cars when their parents never had one?" - Xing Lu, a 38-year-old boss who owns a Ferrari. [Full story]
Money is not the issue. The only thing that bothers me is that the car is too attractive; I want to keep a low profile." - Liu, 32-year-old, considering buying a Rolls-Royce who had a Mercedes-Benz S600 and a Jaguar sports car. [Full story]
China's automobile production and sales will both grow to about 30 million units by 2015 compared to the 18 million vehicles sold last year - A senior industry expert. [Full story]
Soaring gas prices and parking fees, purchasing restrictions in big cities and the earthquake in Japan have deepened the downturn." - Rao Da, secretary-general of CPCA. [Full story]
|
Produced by Hao Yan |