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Nissan Motor Corp.'s net income jumped 37 percent to 112 billion yen for the three-month period ending in June on strong sales in China and the United States. Nissan, the biggest Japanese automaker in China, said its sales in the country rose 21 percent in the quarter to 283,000 units, boosted by the X-Trail SUV. Nissan aims to gain a 10 percent share of the Chinese market, which accounts for a quarter of the automaker's sales by volume. The company has said it expects to sell more than 1.4 million units in China this year. Even so, the automaker has cut deliveries to dealers in China beginning this month, on signs inventory was building up since the end of June on intensifying competition.
SHANGHAI -- Audi AG will cut spare-part prices in China as global automakers rush to change their pricing strategies after Chinese anti-monopoly regulators began probing the auto industry. The National Development and Reform Commission, China's state planner, is investigating the industry amid domestic media complaints that foreign carmakers, using a dominant market position, are overcharging Chinese customers on products and spare parts.
SHANGHAI -- Jaguar Land Rover, owned by India's Tata Motors, plans to cut prices on three models due to the Chinese government's anti-monopoly probe. Jaguar Land Rover will cut prices on the cars by an average of 200,000 yuan ($32,300) starting Aug. 1, after the National Development and Reform Commission, China's state planner, launched an investigation into the auto industry, the company said in a statement.
WASHINGTON -- The Chinese owner of Fisker Automotive hopes to launch a second model that would join the $100,000 Karma luxury plug-in hybrid in three years, according to the company's chairman. Lu Guanqiu, the billionaire chairman and founder of Chinese auto parts giant Wanxiang Group Co., told reporters on Friday that a new Fisker nameplate is under development.
Dealerships in China carried a 51-day supply of vehicles in June, up from 48 days in May, and the China Automobile Dealers Association believes the World Cup may have distracted potential car buyers. June is traditionally a weak month for vehicle sales, the association noted. The dealer group also speculated that many consumers stayed home to watch the games -- which were played in Brazil from June 12 through July 13 -- instead of shopping for cars.
SHANGHAI -- SAIC Motor Co. and Alibaba Group Holding have signed an agreement to develop navigation, music and cloud computing for SAIC's vehicle lineup, reported Caixin Online, a Chinese media Web site. The agreement, signed on July 23, will allow SAIC to use Alibaba's operating system, the Xiami music service and the Autonavi navigation system, according to Caixin.
ZHENGZHOU -- Zhengzhou Yutong Group Co., a major Chinese bus manufacturer, plans to build an assembly plant in Venezuela. Yutong signed a framework agreement with the Venezuela government last week for the factory. The plant will supply the local market and also export buses to other countries in South America, said Yutong, without disclosing further details about the project.
SHANGHAI -- Cooper-Standard Holdings has increased investment in China in the past two years and will continue to do so over the next 10 years, the company's CEO says. The U.S. supplier opened its first plant in China in 2004, later than most other major global auto parts makers, but it's catching up with investment in the country, Cooper-Standard CEO Jeffrey Edwards told Automotive News China last week at a ceremony marking the opening of the company's Asia Pacific technical center in Shanghai.
SHANGHAI -- For a long time, global automakers have been reluctant to sell inexpensive vehicles in China because they didn't want to reduce the healthy profit margins on their products. But the landscape is changing and now foreign automakers are jumping into China's entry-level market. Nissan's Chinese joint venture last week introduced a rebadged Nissan March. Marketed as the Venucia R30 subcompact, the car comes equipped with a starting price of 39,900 yuan ($6,430). It is the lowest-priced sedan that any global brand has ever sold in China. Pictured: Yang Jian is managing editor of Automotive News China.
Great Wall Motor Co., China's largest SUV maker, will invest 3.4 billion yuan ($548 million) to build a third SUV plant. Production at the factory, to be built in Baoding in north China's Hebei province, will start in early 2017, Great Wall said. It will have capacity to produce up to 250,000 vehicles a year.