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shanghai2015

  Volvo deliveries fall 10% in August
Automotive News China | 2015/9/4

Volvo Car Corp.'s China sales declined 10 percent year on year in August to 5,574 vehicles as the weak economy and plunging stock market slowed the Swedish carmaker's ambitious growth plans. In the first eight months, Volvo's deliveries in China declined 4.1 percent to 49,698 cars and light trucks.

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  Daimler to resume exporting China-built, long-wheelbase C- and E-class sedans
Automotive News China | 2015/9/4

Beijing Benz Automotive Co., Daimler AG's joint venture with BAIC Motor Corp., plans to resume exporting long-wheelbase Mercedes-Benz C- and E-class sedans. Beijing Benz is the only plant that builds the two stretched models. The models likely will become the first batch of vehicles for export, BAIC Chairman Xu Heyi told the press last week at an event marking the joint venture's 10th anniversary.

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  BYD to ship 10,000 vehicles to Sudan
Automotive News China | 2015/9/4

BEIJING -- BYD Co. says it has signed an agreement to sell 10,000 passenger vehicles to Giad Motor Co. of Sudan in a deal that includes hybrid- and gasoline-powered models. Two models, the L3 sedan and S7 SUV, will account for most of the exports, BYD said Wednesday in a statement. BYD says the agreement is the largest single export deal negotiated by a Chinese automaker.

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  FAW executive named chief of CAAM, report says
Automotive News China | 2015/9/4

Wu Shaoming, vice general manager of China FAW Group, has been appointed secretary general of the China Association of Automobile Manufacturers, according to a Chinese media report. Wu, 53, will leave FAW to take his new role at the industry body in October, reported China Business News, a Shanghai-based daily newspaper, citing an internal document from the association.

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Chinese startup and would-be Tesla rival NextEV attracts investors
Reuters | 2015/9/4

A group of deep-pocketed China-based Internet entrepreneurs and financial investors, including Tencent and Hillhouse Capital, is backing an effort to create NextEV, a rival to U.S. electric car maker Tesla Motors Inc. Hillhouse also is an investor in Uber, the U.S. ride-sharing service. The backers have hired ex-Ford Motor Co. executive Martin Leach to build a global automaker, a NextEV spokeswoman said this week.

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  Carmakers scramble to adapt to slowing Chinese demand
Reuters | 2015/9/4

China's demand for luxury cars used to move in one direction: up. Now, the prospect of a sustained slump in Chinese demand, prompted by sharp declines in Chinese equity markets and a devaluation of the yuan, has global auto manufacturers scrambling to find new markets to sell goods.

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  VW Finance sees boost from China reserves policy move
Reuters | 2015/9/4

BEIJING -- When China's central bank singled out auto financing companies for extra help on Tuesday, it effectively freed up more than 200 million yuan ($30 million) for Volkswagen AG's China finance unit, which it can use to boost falling car sales, said a top company official.

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  Chinese supplier CW Bearing to build new U.S. HQ near Detroit
Automotive News China | 2015/9/4

CW Bearing USA Inc. will spend $25.9 million (164.6 million yuan) to build a new U.S. headquarters and technical center in suburban Detroit, Michigan Gov. Rick Snyder said this week after returning from an eight-day trade mission to China. CW Bearing USA's new headquarters will house its executive, engineering and sales staffs. Its current U.S. headquarters is in Tustin, Calif., with sales offices in St. Louis, Mo.; Midland, N.C.; and Novi, Mich.

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  Volvo China sales down 10% in August
Automotive News China | 2015/9/2

Volvo Car Co. said its China sales declined 10 percent year on year in August to 5,574 units, as the weak economy slowed the Swedish carmaker's ambitious growth plans for the country. In the first eight months, Volvo's deliveries in China have declined 4.1 percent to 49,698 units.

>> Read Full Story

  ANALYSIS
China faces an added threat down the road: Capacity glut
Neal E. Boudette | 2015/9/1

The news coming out of China right now is bad, and chances are, it's going to get worse. For weeks, we've been hearing about slowing sales, ever greater price discounts and increasing worries about their impact on profits. In July, vehicle sales fell 7.1 percent to a 17-month low, according to the China Association of Automobile Manufacturers. July sales of Volkswagen-branded cars declined 13 percent.

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TOP 10 HEADLINES
OF THE LAST WEEK
The new disconnect between auto sales and economic growth

SAIC warns market outlook remains 'grim'

Luxury shoppers hit pause amid roiling stock market

VW sales suffer on China, lack of new products, analysts say

Toyota to resume plant operations near Tianjin

BAIC in talks to take Daimler stake, report says

BYD profits rise 29% on higher green vehicle volume

Suzuki readies cuts in China output as sales slump

SAIC-GM-Wuling to build vehicles in Indonesia

Toyota extends suspension of Tianjin plant operations through Wednesday

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