China Economic ReviewThe Chinese government introduced policies this year to boost the new-energy auto industry. Hefei is one of five cities in the pilot program for the new subsidies. The other four are Shanghai, Changchun, Shenzhen and Hangzhou. According to the new policy, the central government pays a subsidy of up to RMB50,000 (US$7,510) on a plug-in […]
More new automobiles are expected to be sold in China this year than have ever been sold in any nation ever in a calendar year. According to an estimate released Thursday by the China Association of Automobile Manufacturers, new car sales in China will jump about 30% to 18 million units this year. Which means […]
South Korea’s two leading automakers said their combined auto sales in China are expected to exceed 1 million units this year. Hyundai said its January-November sales in China reached 637,686 units, a 23.5% increase from the same period last year. Its smaller affiliate Kia said it sold 301,358 vehicles in the same period, up 44.6% […]
Car sales in China accelerated in November, rising 26.9% month-on-month, as consumers rushed to take advantage of subsidies for fuel-efficient cars due to expire at the end of the year, AFP reported, citing state media. China auto sales are already at record levels for the year, but November’s 1.7 million units sold pushed the total […]
Volvo Cars, recently acquired by Zhejiang Geely Holding Group (0175.HK) from Ford (F.NYSE), is strongly considering taking over an existing Geely factory in Chengdu and converting it to a pure-Volvo factory to increase China production and sales, Bloomberg reported, citing statements by union representatives on the Volvo board. Volvo CEO Stefan Jacoby has said that […]