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Shanghai auto show

  COMMENT
Why Beijing is in no hurry to free foreign automakers from joint ventures
Yang Jian | 2017/4/28

SHANGHAI -- Foreign automakers in China have dreamed for decades to be free of the joint ventures that the Chinese government has imposed on them.  This week, a document released by three government agencies appeared to signal that wish would soon come true. But a close look at the document's wording -- not to mention the shaky financial condition of China's state-owned automakers -- suggests the opposite.  Pictured: Yang Jian is managing editor of Automotive News China.
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  Great Wall's upmarket move causes expenses to soar as profits slip
Bloomberg | 2017/4/28

Great Wall Motor Co. Chairman Wei Jianjun's bid to elevate the Chinese SUV maker into the ranks of premium car brands is coming at a cost.  Operating expenses soared 17 percent in the first quarter to 21.1 billion yuan ($3 billion) on higher advertising, labor and research costs, according to the company's filing to the Shanghai stock exchange. The higher outlays forced the automaker to post its lowest quarterly profit since the three months through December 2015.
>> Read Full Story

  China signals it may loosen JV ownership limits on foreign automakers
Bloomberg | 2017/4/28

BEIJING   -- China has provided the clearest indication to date that it plans to lift the cap on how much foreign carmakers can own of their local joint ventures.  The government's goal is to pressure Chinese automakers to speed the building of their own brands.
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  PSA's tough task: Fix China slump while absorbing Opel
Automotive News Europe | 2017/4/28

PARIS -- PSA Group CEO Carlos Tavares already has a big job ahead of him as he integrates Opel into the French automaker's operations. Now he has another worry: fixing PSAs retail network in China.  In the first three months, the company's vehicle sales in China and Southeast Asia fell 46 percent to 83,045 vehicles. 
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  Hyundai quarterly profit slides on China-Korea tension
Reuters | 2017/4/28

SEOUL -- Hyundai Motor Co. posted a 21 percent fall in quarterly net profit, dragged down by a U.S. recall and sales declines in China stemming from political tensions.  Hyundai's 13th consecutive year-on-year fall in quarterly net profit underscores the fresh challenges the company faces.  
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  MG cars to be sold across Europe in 2019
Automotive News Europe | 2017/4/28

SHANGHAI -- SAIC Motor Corp. said it will begin sales of MG cars in mainland Europe through its Luxembourg sales operation starting late in 2019.  MG cars have been sold in the United Kingdom since 2011, but SAIC delayed launching MG in the rest of Europe after U.K. sales remained slow. The Chinese automaker had hoped MG would profit from its heritage as the company that once produced the MGB roadster.
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  Toyota, in 'agonizing' U-turn, to develop EVs, plug-in hybrids
Reuters | 2017/4/25

SHANGHAI -- Chinese policies that promote electric vehicles have forced Toyota Motor Corp. into what one executive calls an "agonizing" strategic U-turn.  Until recently, Toyota was one of the industry's major holdouts against full electrification, and planned to de-emphasize battery-electric cars in favor of hydrogen as an alternative to gasoline-fueled vehicles.
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  Toyota to test demand for hydrogen-powered vehicles with long-term Mirai demo
Hans Greimel | 2017/4/25

SHANGHAI -- Toyota will launch a long-term market test in China starting in October to assess the viability of fuel cell vehicles and to begin promoting the futuristic technology. The trial, using the hydrogen-powered Mirai, will run through 2020. As part of the test, Toyota is installing a hydrogen refueling station at its Chinese r&d center in Changshu.
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  Ford, Chevy, test Chinese demand for sporty American 'pony cars'
Hans Greimel | 2017/4/25


SHANGHAI -- Few feuds evoke the rabid fanaticism of the Ford Mustang-Chevy Camaro rivalry, a decades-old rift that embodies American ideals of power and freedom.  Now the quintessential American rivalry is taking root in China. A growing cadre of hot-rodders in the Middle Kingdom are enthralled with the cars and Ford and Chevrolet are playing up their venerable and sporty "pony car" designs to invigorate their brands in China's hotly competitive market.
>> Read Full Story

  SHANGHAI AUTO SHOW
Jeep finds green groove with 7-seat, plug-in hybrid SUV concept
Automotive News China | 2017/4/25

SHANGHAI -- Jeep is flexing its green and connectivity chops at the Shanghai auto show with a luxury seven-seat plug-in hybrid SUV.  The Jeep Yuntu -- Chinese for cloud -- was designed by Fiat Chrysler Automobiles for its China joint venture, GAC FCA.  China is a key market for Jeep, which was one of the first Western brands to establish a manufacturing beachhead here through a joint venture, Beijing Jeep, in the mid-1980s.

>> Read Full Story
 

TOP 10 HEADLINES
OF THE LAST WEEK
Why Beijing is in no hurry to free foreign automakers from joint ventures

China targets 35 million annual vehicle sales by 2025

Great Wall's upmarket move causes expenses to soar as profits slip

Dealer inventories remain above normal in March

China signals it may loosen JV ownership limits on foreign automakers

PSA's tough task: Fix China slump while absorbing Opel

Hyundai quarterly profit slides on China-Korea tension

MG cars to be sold across Europe in 2019

Toyota, in 'agonizing' U-turn, to develop EVs, plug-in hybrids

Toyota to test demand for hydrogen-powered vehicles with long-term Mirai demo

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