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CARMAKERS NEWS * WORLDWIDE
* USA / China - Supplier lifeline: Chinese funding
(Photo by Charles V. Tines / The Detroit News: A123’s Livonia plant opened in 2010 to make batteries for electric cars)
Waltham, MASS,USA -The Detroit News, by David Shepardson -August 9, 2012: -- Struggling battery maker A123 Systems Inc., which has nearly 800 employees in Michigan, said Wednesday it has reached a deal with a Chinese auto parts company for an investment of up to $450 million that could keep the company in business... The deal with Wanxiang Group Corp. would allow the Chinese firm to acquire an 80 percent stake in the Waltham, Mass.-based battery maker... A123 has faced several problems, including layoffs and the recall of some batteries for safety concerns. Amid lagging electric vehicle sales, A123 said in May there was "substantial doubt" about the company's viability... Wanxiang is China's largest auto parts company and one of its largest private firms. It is the second-largest stakeholder in Guangzhou Automobile, China's most profitable domestic car company...
- AUTO SALES -
* China - Auto sales growth slows amid weak economy
Beijing,China -Associated Press/The Detroit News -August 9, 2012: -- Growth in China's auto sales decelerated in July, data showed Thursday, adding to signs of weakness in the world's second-largest economy... Passenger car sales rose 11 percent to 1.12 million, down from June's 15.8 percent rate, the government-sanctioned China Association of Automobile Manufacturers reported. Total vehicle sales rose 8 percent to 1.38 million, down from the previous month's 10 percent gain... Auto sales spiked in 2009 and 2010 after Beijing responded to the global crisis by cutting taxes and offering subsidies. But growth has dropped off since those incentives ended and the economy's rapid expansion slowed...* China - Auto sales growth slows amid weak economy
* Brazil: July Auto Sales Rise 22% on Year, Up 3% From June
Sao Paulo,SP,Brazil -Dow Jones/Lloyds (UK), by Paulo Winterstein -3 Aug 2012: -- Brazilian vehicle sales in July climbed 22% on the year as tax cuts revived demand in the world's fourth-largest auto market, the national association of auto dealers, Fenabrave, said Friday... Sales of cars and light commercial vehicles reached 351,410 units in July, up 3% from June. July sales were the strongest ever for the month of July and the second-best month for Brazil sales after December 2010... Including heavy trucks and buses, sales climbed 3.1% from June, and jumped 19% from the year-earlier month. That helped push sales during the first seven months of this year up by 1.8% in comparison with 2011 levels... Sales have increased since May, when the government reduced taxes and cut reserve requirements for auto loans to counter sluggish sales. But with the tax benefits set to expire at the end of this month, Fenabrave expects a 1.5% drop in 2012 sales when compared with 2011... In July, Fiat SpA once again was the market leader, with 24% of car and light-commercial vehicle sales. Volkswagen AG came in second, followed by General Motors Co., and Ford Motor Co. ... * Vietnam: Sales fall 20% in July
Hanoi,Vietnam -Just Auto (UK), by Tony Pugliese -10 August 2012: -- Vietnam’s automotive market showed little sign of improvement in July, with sales falling by 19.7% year-on-year to 6,937 units, according to data released by the Vietnam Automotive Manufacturers Association... High interest rates and a hike in vehicle registration taxes at the beginning of the year have put significant pressure on purchases by consumers and businesses. Year to date, sales fell 29.8% to 43,448 units, from 61,935 units a year earlier... Market leader Truong Hai, which assembles Kia cars and various commercial vehicles, posted a 27% drop in first half sales to 13,152 units, units; followed by Toyota with 12,084 sales (-24%); and GM-Daewoo with 3,209 sales (-40%)...
* Philippines: Car sales up 37.2% as of July
Mandaluyong City,Philippines -Top Gear -9 Aug 2010: -- Car sales in the Philippines continued to rise with more Pinoys opting to buy new vehicles, particularly those which serve dual or even multiple purposes, as the economy improves... A joint report from the Chamber of Automotive Manufacturers in the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association said a total of 98,119 vehicles were sold from January to July, 37.2 percent higher than the number of units sold in the same period last year. In July alone, 15,972 cars were sold, reflecting a 37.7 percent increase in car sales for the month. CAMPI data does not include sales of non-members like Motor Image Pilipinas (Subaru), and Chinese brands like Foton, Great Wall and Lifan... Sale of passenger cars jumped 34.7 percent while commercial vehicle sales surged 38.6 percent with growth mainly on light commercial vehicles like sport-utility vehicles, pickup trucks and vans... Toyota continued to dominate the industry with a total of 31,745 units sold from January to July, up 29.3 percent from last year's sales in the same months. It is followed by Mitsubishi with 18,504 units (up 42.8 percent) and Hyundai with 11,836 units (up 104.5 percent)...Labels: carmakers news worldwide
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