China's BAIC said to seek Fisker assets | VW Group sales jump 21% in June, top GM | New, upgraded models propel Dongfeng-PSA 1st-half volume

CHINA NEWSLETTER July 15, 2013

 

BAIC seeks to acquire Fisker assets, report says Automotive News China Beijing Automotive Industry Holding Corp., a state-owned Chinese automaker, is interested in acquiring assets of troubled U.S. plug-in hybrid vehicle maker Fisker Automotive Inc., according to Chinese media. A team of delegates from BAIC visited Fisker in Anaheim, Calif., last week, reported Shanghai Securities News. >> More VW Group sales jump 21% in June, top GM Automotive News China BEIJING -- Volkswagen Group says its various brands in China sold 262,700 units in June, up 21 percent year-on-year as the German automaker enjoyed strong luxury-car sales. In June, VW outsold rival General Motors, which reported 236,207 deliveries. But GM kept a slim lead over the first six months, with sales of 1.57 million vehicles compared with VW's 1.54 million units. >> More Dongfeng-PSA 1st-half sales rise 33% on new, upgraded models Automotive News China Dongfeng Peugeot Citroen Automobile Co. sold 276,896 vehicles in the first half of this year, surging 33 percent year-on-year. Peugeot brand sales jumped 35 percent from a year earlier to 139,718 units, while Citroen deliveries rose 30 percent to 137,178 units. >> More Changan preps SUV for Frankfurt auto show Automotive News China Changan Automobile Co. will unveil a full-sized SUV, the CS75, at the Frankfurt auto show in September. The state-owned automaker did not release additional details about the light truck. Changan also will display several existing models at the show, including a plug-in hybrid. >> More Jing Zhu, Haima's longtime chairman, resigns Automotive News China Haima Automobile Group Co., a small private Chinese automaker, disclosed last week that its founder and controlling shareholder, Jing Zhu, has resigned as chairman. Haima did not disclose the reason for Jing's resignation. Jing, 47, launched Haima in 1998 and had been chairman since 2004. >> More GM: OnStar service hits 600,000 subscriber mark Automotive News China SHANGHAI -- Shanghai OnStar Telematics Co. says it now has 600,000 Chinese subscribers for its service, which includes navigation, emergency response, hands-free phone calls and other features. OnStar, which has 6.6 million subscribers worldwide, was launched in China in 2009 as a 40-40-20 joint venture of General Motors, SAIC Motor Corp. and Shanghai GM. >> More Remy buys out China partner in alternator JV Automotive News China PENDLETON, Ind. -- Remy International Inc. said it has agreed to buy out its Chinese partner, Hubei-based Super Electric Auto Motor Co., and acquire Super Electric's 49 percent stake in a joint venture that produces alternators. Remy, which has held a 51 percent share of China's Remy Hubei Electric Co., expects to win government approval and complete the deal in the next month or so. >> More

TOP 10 HEADLINES OF THE LAST WEEK As foreign rivals raise ante in China, domestic brands could be crowded out China's light-vehicle sales up 9% in June VW group deliveries in China rise 21% in June as VW outsells GM 8 more Chinese cities likely to curb auto sales, industry group says EV, plug-in hybrid sales surge 43% in first half Light-vehicle sales rise 9% in June on strong demand for SUVs, MPVs China to become BMW's top market in 2013 on growth in smaller cities VW brand volume jumps 18%, outpaces industry Cash crunch may force dealers to trim stockpiles BAIC, Beijing Electronics, Korea's SK Group form EV battery joint venture