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  COMMENT
How China's price war engulfed foreign automakers
Yang Jian | 2016/8/26

SHANGHAI -- Until recently, foreign automakers were reluctant to cut prices in China, a strategy that Chinese brands routinely use to win market share.  Backed by high brand recognition and technology, most global brands have made higher profits per vehicle in China than in other markets for a long time.  But that's changing. Despite a stagnating economy, China's auto sales continue to grow. To sustain that growth this year, foreign carmakers have repeatedly slashed prices.  Pictured: Yang Jian is managing editor of Automotive News China.
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  Jinbei names new chairman to lead turnaround
Automotive News China | 2016/8/26

Shenyang Jinbei Automotive Co. appointed director Liu Pengcheng chairman as part of a turnaround effort by China's largest commercial bus producer to revive sales and profits.  Liu, 49, a member of the company's board of directors, is also president of Brilliance China Automotive Holdings, Jinbei's parent company. 
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  GAC breaks ground on 1.6 billion yuan assembly plant in Urumqi
Automotive News China | 2016/8/26

Guangzhou Automobile Group Co. began construction on an assembly plant in Urumqi, the capital of northwest China's Xinjiang region, as part of an expansion into the countryí»s vast interior.  The factory initially will produce Trumpchi-brand crossovers and plug-in hybrids, with annual volume targeted at 50,000 vehicles, according to GAC.
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  SAIC posts 6.3% rise in first-half profit on higher sales
Reuters | 2016/8/26

SAIC Motor Corp. posted a 6.3 percent rise in first-half net profit as the world's largest auto market continued to rebound due to a tax cut on cars with small engines.  SAIC, which has joint ventures with Volkswagen AG and General Motors in addition to making its own brands of vehicles, reported a net profit of 15.1 billion yuan ($2.3 billion) for the first six months of 2016, according to a stock exchange filing.
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  Audi to produce dual-clutch transmissions in Tianjin
Automotive News China | 2016/8/26

TIANJIN -- Audi AG opened a transmission plant in Tianjin to produce seven-speed dual-clutch transmissions for the A4 sedan.  Audi says the plant will produce 240,000 gearboxes annually, and have a work force of 1,000 at full capacity. The company can double the plant's production capacity later.
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  Korea's Ssangyong may build Chinese assembly plant
Bloomberg | 2016/8/26

Ssangyong Motor Co. is considering construction of an assembly plant in China, part of the South Korean automaker's effort to ease its reliance on Europe's struggling car market.  Vasudev Tumbe, the automaker's CFO, told Bloomberg News that the company is considering such a plan, but added that it was too early to offer details.
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  Lear to build leather factory in Yangzhou
Automotive News China | 2016/8/26

U.S. supplier Lear Corp. plans to construct a leather processing plant in the east China city of Yangzhou to support its growing Chinese seat business.  Under an agreement signed with Yangzhou's city government, Lear will build a factory with a floor area of 32,000 square meters (344,445 square feet). 
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  Geely Automobile net profit surges 36% in first 6 months
Automotive News China | 2016/8/23

Geely Automobile Holdings says its net profit jumped 36 percent year on year to 1.9 billion yuan ($284.8 million) in the first six months, as customers snapped up the company's crossovers.  Two new crossovers, the Geely Boyue and Emgrand GS, are priced higher than most of Geely's  other products, so they also improved the company's profit margin. 
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  Dongfeng-PSA deliveries plunge 17% through first 7 months
Automotive News China | 2016/8/23

Deliveries of Dongfeng Peugeot Citroen Automobile Co. slumped 17 percent year on year to 321,200 vehicles in the first seven months of this year, according to a Chinese media report.  In July, the partnership's sales dropped 7 percent from a year earlier to 34,300 vehicles, reported Internet Info Agency, a Beijing-based website covering China's auto market.
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  BAIC to invest 5.5 billion yuan in South African assembly plant
Bloomberg | 2016/8/23

Beijing Automotive International Corp. will invest $819 million (5.5 billion yuan) to build a South African assembly plant, giving a further boost to one of that country's fastest growing industries.  On Friday, BAIC said it had signed a deal with Coega Development Corp., operator of an industrial development zone in Port Elizabeth. 
>> Read Full Story
 

TOP 10 HEADLINES
OF THE LAST WEEK
Automakers face uncertainty over key Chinese government policies

BAIC to tap old Mercedes-Benz platform to develop vehicles, report says

EV startup WM raises $1 billion in initial funding round to challenge Tesla

GM to launch Chevrolet Cavalier in China

LeEco plans 12 billion yuan EV plant in Deqing

China to build 500 campgrounds for RVs from 2016 to 2020

China's Gree moves forward with EV plan, report says

Light-vehicle sales soar 26% in July

VW Group, with July deliveries rising 16%, outsells GM

Audi continues to lose market share to BMW, Mercedes

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