An affiliate of German carmaker Volkswagen has been fined more than USD40.5 million for price-fixing in China, authorities said Thursday, the latest company to be punished under a sweeping anti-monopoly crackdown. FAW-Volkswagen Sales Company, Ltd., a partnership between the Frankfurt-based firm and Chinese auto maker FAW, has...
China’s auto sales growth decelerated further in August to 8.5 percent while sales of SUVs surged by nearly a third. Drivers in the world’s biggest auto market by vehicle sales bought 1.5 million passenger cars in August, the China Association of Automobile Manufacturers said on Thursday.
To celebrate its 10 year anniversary in China and 100th anniversary as a company, Maserati has planned a China-Italy Centennial Rally and expansion of its dealership network in China. Starting at the Imperial Ancestral Temple in Beijing, the 35-day 12,000 km journey that started last week will cross Russia, Belarus, Poland, Czech Republic, Germany, and Austria before ending in Maserati’s birthplace, Modena, Italy.
VOLKSWAGEN, Europe’s biggest auto group, posted on Thursday a robust quarterly net profit, thanks to growth in China and higher profits at its luxury car divisions Audi and Porsche.
The launch of the Mercedes A Class and B Class and the BMW 1 Series had shaken the traditional market of luxury sedans dominated by Japanese car makers, as customers increasingly veered towards stylish, compact and sporty cars made by established luxury brands.
Sales of passenger cars in China again grew by double digits in June, fanned by continued talk of tighter curbs on buying, and drove the market to a 15.2 percent jump in the first half of the year, the China Passenger Car Association said on Monday.
Electric carmaker Tesla hopes to sell more cars in China, which it expects to become one of its largest markets in a few years, following the Shanghai city government’s decision to grant free license plates to buyers of its Model S vehicles.
Japanese auto sales dropped 11.4 percent in April from a year ago, an industry group said today, highlighting the impact of a sales tax rise which sparked a mad dash to stores ahead of the levy hike. The drop marked the first fall in eight months, with sales of new cars, trucks and buses totalling 188,864 vehicles, the Japan Automobile Dealers Association said, although sales of thrifty mini-vehicles hit a record high.
Indonesia will increase the luxury tax on luxury cars to 125 percent from 75 percent starting this month, aiming to narrow its trade deficit by slowing imports and curbing spending by the wealthy, however the actual effects may be limited because it applies to only a slim fraction of the overall auto market.
China is set to surpass the United States to become Volvo Car Group's biggest market in 2014 with sales of at least 80,000 cars in the world's largest auto market. Its car sales target for 2014 is around a third higher than the 61,146 cars sold in 2013, while sales in the US in 2014 are expected to increase only in line with the broader market, it said in a statement on Sunday.