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US June auto sales seen showing signs of stability Automotive News China June 30, 2009 DETROIT -- Major automakers are expected to report the highest sales rate of 2009 when they post results for June, as deep discounts limit industry-wide results to a 30-percent decline.In the context of the U.S. auto industry, where sales have been slumping for four years, that would constitute good news and support the view sales are near bottom after a punishing decline to nearly 30-year lows, analysts and executives said. --Published:Jul. 1, 2009 >> Read Full Story |
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COMMENT Opel keeps hope alive Automotive News China June 30, 2009 NEW YORK -- With General Motors in a Washington-guided bankruptcy and car makers around the world benefiting from government subsidies, politics has become firmly intertwined with the fate of the global auto industry. Even so, the deal reached in late May between General Motors and a group led by Magna International for GM's European arm, Opel, smacked of trying too hard to come up with a politically convenient solution.So the news that GM is now talking to other potential bidders is a welcome sign. Among the bidders are RHJ International , a publicly traded Belgian spinoff of the American private-equity firm Ripplewood Holdings, and Beijing Auto. --Published:Jul. 1, 2009 >> Read Full Story |
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COMMENT The government should resist calls for fresh market stimuli Yang Jian yangjian@autonewschina.com  SHANGHAI -- For the rebound of China's auto market in this year's first five months, we can mostly thank the government's 50 percent purchase tax cut on vehicles with engine displacement of 1.6 liters and below. Some automakers now fear the policy's market stimulating effect will taper off. They are lobbying the government to expand its coverage. The government should not listen to them. The domestic economy has improved, so it is time to reduce government intervention and let the market decide what is needed and who can survive amid competition. Pictured: Yangjian is the Managing Editor of Automotive News China.
--Published:Jul. 1, 2009
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BAIC is bidding for Volvo and Opel Yang Jian yangjian@autonewschina.com SHANGHAI -- Beijing Automotive Industry Holdings Corp. has dispatched separate teams to Europe to bid for Volvo Car and GM's Opel unit, sources familiar with the situation say. About two months ago, BAIC sent its representatives to Germany to bid for Opel and talks between GM and BAIC on the sale of Opel are ongoing, sources say. --Published:Jul. 1, 2009 >> Read Full Story |
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FAW postpones assembly plant in Mexico Yang Jian yangjian@autonewschina.com  SHANGHAI -- China FAW Group Corp. has postponed the construction of a joint venture assembly plant in Mexico with its local partner Salinas Group, according to a FAW source. "Given the serious economic recession in Mexico, it is impossible to proceed with the project in line with the original schedule," says Li Hao, a manager of Tianjin FAW Imports and Exports Co., which is a FAW subsidiary overseeing the company's exports to Mexico.
--Published:Jul. 1, 2009
>> Read Full Story Ford adds 5 Europeans to list of preferred suppliers Robert Sherefkin Automotive News Europe  DETROIT -- Ford Motor Co. has added 16 companies to its list of preferred suppliers. Five of the suppliers are based in Europe. These are the first new names added to the list since August 2008. The selections by purchasing chief Tony Brown [pictured], announced Wednesday at Ford headquarters in suburban Detroit, lean heavily into powertrain suppliers such as Germany's Kolbenschmidt Pierburg AG and Denso Corp. of Japan.
--Published:Jul. 1, 2009
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Opel eager for joint projects Automaker foresees close cooperation with GM, others Michael Knauer Automotive News RUESSELSHEIM -- The new Opel is looking forward to close cooperation with other automakers, even with its former parent, General Motors.In the future, the company will share common purchasing and technical development with GM, Klaus Franz, the head of the Opel works council, told Automobilwoche. --Published:Jul. 1, 2009 >> Read Full Story |
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Southeast to develop a new subcompact Run Liu runliu012@gmail.com  GUANGZHOU -- To expand its limited product lineup, Southeast (Fujian) Motor Corp. has started developing a new own-brand subcompact which will be available in both sedan and hatchback versions earlier this month. Last week, Southeast's parent company Fujian Motors Group announced that Southeast has signed agreements with parts suppliers and a local university to jointly develop a new subcompact car with the product code of V4 [pictured].
--Published:Jul. 1, 2009
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JCS opens plant in China to supply Mazda Namrita Chow namritachow@autonewschina.com SHANGHAI -- Automotive heating, ventilation and cooling (HVAC) system supplier Japan Climate Systems on June 19 opened a new 68 million yuan ($9.9 million) plant in the east China city of Nanjing.The 10,000 square meter plant is JCS's first plant outside Japan. It has capacity to produce 800,000 evaporators, 300,000 condensers and 300,000 heater cores annually. It is expected to reach full capacity with a staff of 300 by 2012. --Published:Jul. 1, 2009 >> Read Full Story |
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