Autoblog

Dismal hybrid, electric vehicle sales in China concern automakers

Autoblog Staff — Sat, 11 Dec 2010 15:04:00 EST

To say that sales of alt-energy vehicles in China have been dismal would be an understatement. Despite investing million into advanced alternative fuel powertrains, the Global Times reports that many Chinese automakers are facing the tough decision to either ditch their green car plans or continue on with sales that are far below expectations.

Due to poor sales volume, Changan Auto has pulled the plug on its hybrid Jiexun. According to the company, not a single Jiexun was sold during the last year. BYD faces similar struggles, reporting that it has sold only 54 E6 electric vehicles and just 290 F3DM plug-in hybrids between January and October of this year. Even Toyota admits that Prius sales volume, which has been at less than 4,000 for each of the past three years, is below the company's expectations.

Many Chinese automakers have voiced concerns and are calling upon the government to help boost sales of advanced-technology vehicles. So far, however, buyers have shown little interest in purchasing the high-tech rides that often come with steep price tags.

Source: Global Times]

Dismal hybrid, electric vehicle sales in China concern automakers originally appeared on Autoblog on Sat, 11 Dec 2010 15:04:00 EST. Please see our terms for use of feeds.

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Chinese women driving new Ferrari sales?

Zach Bowman — Mon, 26 Apr 2010 16:39:00 EST

Filed under: Performance, China, Earnings/Financials, Ferrari, Luxury

Ferrari 599XX at Miller Motorsports Park - Click above for high-res image gallery

It looks like Ferrari's love affair with China isn't one-sided. According to a recent report, the Prancing Horse moved a total of 220 cars in China last year, and of those, 20 percent were snapped up by well-to-do women. That means China's ladies are buying Ferraris at four times the rate of their western counterparts. Why? It all has to do with business.

Ferrari says there are somewhere between 400-500 millionaires in China and that a fair portion of those are women who have earned their money by building and operating competitive businesses. They've got cash, and they want the toys that come with it.

Interestingly enough, the company also said that the average age of a Chinese Ferrari buyer is 10 years younger than in Europe or North America. If you were looking for proof that the automotive industry is shifting its focus from the west, look no further.

Gallery: Ferrari 599XX at Miller Motorsports Park

[Source: Go Auto]

Chinese women driving new Ferrari sales? originally appeared on Autoblog on Mon, 26 Apr 2010 16:39:00 EST. Please see our terms for use of feeds.

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Report: Toyota sells fewer cars in Japan than rest of Asia for first time

Michael Harley — Sun, 03 Jan 2010 13:41:00 EST

Filed under: China, Japan, Plants/Manufacturing, Toyota, Earnings/Financials

Booming auto sales in China are credited with pushing Toyota Motor Corp's Asian auto sales higher than those solely in its domestic market for 2009 - a first for the Japanese automaker. Toyota sold 1,354,000 units in Asia during the first 11 months of the year (an increase of 4.5 percent compared to the previous year). In contrast, the automaker sold 1,256,000 vehicles in Japan during the same period. China is credited with 622,000 units sold (a 20.7 percent increase) - that number is expected to pass 700,000 units by the end of the year.

Toyota's North American market is still the sales leader, with 1,770,000 vehicles sold January through November of 2009. However, now that Japan has been bumped aside, the Asian market is expected to solidify its position as the automaker's second-largest market once the numbers are finalized for 2009.

[Source: Japan Today]

Report: Toyota sells fewer cars in Japan than rest of Asia for first time originally appeared on Autoblog on Sun, 03 Jan 2010 13:41:00 EST. Please see our terms for use of feeds.

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REPORT: China passes U.S. in auto sales

Chris Shunk — Thu, 09 Jul 2009 16:57:00 EST

Filed under: Car Buying, Trends, China, GM

Most of the world has been knee deep in a wicked recession for quite a while, and auto sales have been hit especially hard. Here in the U.S., the numbers have been abysmal, as the first half of the year saw only 4.8 million sales through June. China, on the other hand, is running away with the overall sales lead, as the ~~emerging~~ emerged market has added 6.1 million cars and trucks to its still developing roadways. According to The Associated Press, June sales were up 36% over the same period in 2008, and they're up 17% on the year.

The big winner in the market so far this year appears to be General Motors. The struggling Detroit, MI-based automaker has seen its China sales jump by 38% this year; while its U.S. sales have tanked. Industry analysts are predicting that the overall market for passenger cars in China will be between 10 and 11 million units.

Most experts weren't expecting China to pass the U.S. in overall sales for another decade, but the crumbling American auto industry has expedited the power shift, at least for the short term. With 1.3 billion people and a healthy economy, this day was destined to come.

[Source: The Associated Press via Google]

REPORT: China passes U.S. in auto sales originally appeared on Autoblog on Thu, 09 Jul 2009 16:57:00 EST. Please see our terms for use of feeds.

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GM looking to double sales in China by 2013?

Jonathon Ramsey — Mon, 13 Apr 2009 16:29:00 EST

Filed under: China, GM, Earnings/Financials

General Motors sold 1.09 million vehicles in China in 2008, and the automaker wants to nearly double that figure to two million by 2013. A GM spokeswoman in China said they'll do that by introducing thirty -- that's right, 30 - "new or upgraded models" over the next five years. The company's March sales were up in China, along with everyone else's, thanks to China's new car buying incentive. With Q1 sales at 363,701 units, that would put GM on course for nearly 1.5 million cars sold in 2009.

In the short term, the sales targets rely on the global economy not getting any worse, and the Chinese government artificially propping up sales. Over the long term, GM must be hoping that by the time the economy turns around it will still be a strong enough to take advantage of its dominant position, its eight Chinese joint ventures and China-specific development, and the allure of those 30 new and revised models. If it can't, then Volkswagen looks to be the wolf in the shadows, having also pledged to double its sales to two million units by 2018.

[Source: Reuters]

GM looking to double sales in China by 2013? originally appeared on Autoblog on Mon, 13 Apr 2009 16:29:00 EST. Please see our terms for use of feeds.

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General Motors China sales continue rapid growth, up 25% in 1st quarter

Sam Abuelsamid — Tue, 03 Apr 2007 15:05:00 EST

Filed under: GM

General Motors has been on the upswing in their home market lately, at least compared to Ford and Chrysler, but its US performance pales compared to the automaker's action in China. General Motors China just released their first quarter sales figures and they are up twenty-five percent compared to 2006. For the second time in 2007, March sales cracked the 100,000 unit barrier.

GM's total market share in China now stands at 13.9%, 0.5% more than last year. Buick remains the dominant brand in the Chinese stable with 82,195 cars out the door and Cadillac also jumped 62% in the quarter to 1,797 cars, thanks in part to the new SLS long wheelbase derivative of the STS. The GM press release is after the jump.

[Source: General Motors]

Continue reading General Motors China sales continue rapid growth, up 25% in 1st quarter

General Motors China sales continue rapid growth, up 25% in 1st quarter originally appeared on Autoblog on Tue, 03 Apr 2007 15:05:00 EST. Please see our terms for use of feeds.

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