CHINA NEWSLETTER March 19 2019
 
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VW Group sales fall in Feb. behind weak Skoda, VW brand results
Automotive News China
Volkswagen Group's China deliveries declined for the seventh straight month in February, dropping 7.4 percent from a year earlier to 234,400. The company's results were dragged down by the Skoda and VW mass-market brands.
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BMW, Mercedes-Benz lower prices in China after VAT drop
Reuters
SHANGHAI -- BMW AG and Mercedes-Benz said they will lower prices in China after the government announced it will reduce the country's value-added tax starting on April 1. The German automakers each published posts on Chinese social media announcing immediate price cuts for several models. The discounts come as China endures a shrinking market for automobiles as the economy slows.
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VW CEO draws SAIC complaint over remarks about raising stake in joint ventures
Automotive News China
SAIC Motor Corp. expressed disappointment over comments Volkswagen Group CEO Herbert Diess made last week on the possibility of increasing the German automaker's stakes shares in China-based joint ventures. It is "regrettable" that VW unilaterally commented on important matters regarding shares in its joint ventures in China without consulting local partners, SAIC said in a statement Monday.
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BYD shores up sales behind EV demand
Automotive News China
BYD Co.'s sales rose 2.1 percent to 26,833 in February as robust demand for electrified vehicles more than offset an ongoing sharp decline in gasoline-powered car and light-truck deliveries. BYD delivered 14,429 plug-in hybrids and electric vehicles last month, a surge of 72 percent, according to company filings.
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Dealership stockpiles spike; Changan Ford stores carry 95-day supply
Automotive News China
Inventories at dealerships across China surged to a 63-day supply in February from 42 days a month earlier, as new-vehicle purchases slowed during the weeklong Chinese New Year holiday. The backlog at dealerships marketing domestically built foreign mass-market brands jumped to 67 days from 41 days in January.

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Infiniti pulls plug in Europe to focus on China, U.S.
Reuters
Infiniti said the exit from western Europe, where import luxury brands continue to struggle, will allow it to focus on an initiative to electrify a good portion of its product portfolio, a top priority for automakers in China. Infiniti will also dedicate more resources to its SUV lineup in North America and bring five new or significantly redesigned vehicles to China over the next five years.
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 TOP 10 HEADLINES
OF THE LAST WEEK

Chinese automakers renew drive to go global

Sales decline accelerates at GM's 2 joint ventures

Audi mulls hiking stake in FAW, SAIC joint ventures

BMW, Audi gain; Mercedes Feb. sales dip

China's new investment law looms over foreign automakers

GM to launch 9 locally produced electrified vehicles in next 5 years

Ford, Changan slump drags into 2019

China customs lifts suspension on Tesla Model 3 imports

Volvo dividend to aid coffers of debt-laden Geely

Light-vehicle sales drop for 8th straight month amid slowing economy



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