CHINA NEWSLETTER October 9 2018
 
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GM slides into reverse as market stalls
Reuters
SHANGHAI -- General Motors Co.'s quarterly sales in China fell for the first time in over a year, hit by faltering economic growth and a wider slowdown in the world's biggest auto market amid a whipsawing trade war with the United States.
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China's automakers face threats at home, abroad
Hans Greimel
A spiraling trade war between China and the U.S. is casting new doubt on the overseas ambitions of China's domestic automakers. And landmark policy changes at home mean China is no longer the sheltered incubator for local automakers it once was.
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Evergrande Health sued by Faraday seeks to scrap stake sale
Reuters
Electric vehicle startup Faraday Future sued China's Evergrande Health Industry Group for failing to make a financing payment and signaled it was looking to scrap a deal to sell a stake to Evergrande.
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Geely maintains double-digit sales growth in September
Automotive News China
Geely Automobile Holdings' China sales lost some steam in September but still managed to advance by double digits after rising 30 percent in the first eight months of the year. Geely said it delivered 124,429 vehicles in China last month, a gain of 14 percent over September 2017.
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Toyota, sensing an opening, debates building Lexus cars in China
Reuters
Toyota Motor Corp., long opposed to producing its premium Lexus cars in China because of concerns over quality and profitability, is now considering it to ignite growth and narrow sales gaps with its German rivals, four company insiders told Reuters.
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Audi sales advance 13% on demand for locally built A4 sedan
Automotive News China
Audi is maintaining robust sales and outpacing the overall China market with September deliveries rising 13 percent year on year to 65,767. The growth was led by the locally produced, stretched A4 sedan. Sales of the upgraded A4L surged 42 percent to 17,199 last month.
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Volvo deliveries advance 14% behind XC60, S90
Automotive News China
Volvo Car Corp.'s China sales rose 14 percent to 13,205 in September behind demand for two locally assembled models -- the XC60 compact crossover and the S90 large sedan.

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Renault to launch electric crossover in China next year
Automotive News China
Renault SA will launch sales of its first electric vehicle, a low-cost subcompact crossover, in China next year. The EV -- the Renault K-ZE -- was introduced as a concept at the Paris auto show last week.

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S.Korea's SK Innovation to invest $354M in EV battery parts plant
Reuters
SEOUL -- South Korea's SK Innovation plans to invest 400 billion won ($354 million) to build a China plant for key parts used in electric vehicle batteries.
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 TOP 10 HEADLINES
OF THE LAST WEEK

GAC may delay U.S. plans in wake of trade spat

Chery hires industry veteran Kevin Rice as design chief

EV startup Byton acquires debt-laden FAW unit to gain production license

Tesla worried by China tariffs even as deliveries surge

Didi launches ride-hailing services in Osaka, Japan

China faces new hurdles in seeking Canada, Mexico trade deals

Chery Auto's general manager steps down

Ford finalizes Zotye deal to offer ride-hailing EVs, services

GM recalls more than 3.3 million vehicles for suspension defect

SF Motors licensed for EV output in China



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