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Monday, January 13, 2020
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China
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Market declines for second straight year; EV demand dips for first time
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China’s new-vehicle market, a reliable source of growth and profits for automakers worldwide, contracted for the second consecutive year as a weakening economy and prolonged trade war with the United States continued to sap demand. New-vehicle deliveries slipped 8.2 percent to just below 25.8 million last year, the China Association of Automobile Manufacturers said, adding volume will likely fall again in 2020.
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China
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China: No cuts planned in 2020 for green subsidies
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Beijing has been slowly rolling back a generous 5-year incentive program for electric vehicles, hybrids and other green vehicles, saying it plans to phase out subsidies after 2020, amid criticism that some companies have become overly reliant on the funds.
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China
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Audi, in a first, outsold by Mercedes-Benz, BMW in tight 2019 race
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All three major Germany luxury-car brands bucked the downturn in China’s new-vehicle market in 2019, but Audi was dethroned as the country’s top-selling luxury marque after more than two decades on top. Both Mercedes-Benz and BMW, albeit narrowly, topped Audi in annual sales in the largest market for each brand.
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China
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Toyota, Honda maintain robust growth in 2019
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Toyota Motor Corp. and Honda Motor Co. posted strong sales increases in China last year despite a protracted contraction in the overall new-vehicle market. Toyota Motor delivered roughly 1.62 million vehicles under the Toyota and Lexus brands in China last year, an increase of 9 percent, the company’s China office said.
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China
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BYD hires former GM China president as adviser
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BYD Co., facing a slumping market for EVs as Beijing dials back on consumer incentives, recruited Kevin Wale, the former head of General Motors’ China operations, as a senior adviser to company chairman Wang Chuanfu.
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China
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Ford's China vehicle sales drop 26% in 2019
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The automaker recorded its third straight yearly decline in China, where it has been trying to revive sales after its business began slumping in late 2017.
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Sales
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Jaguar Land Rover global sales fall 5.9% in 2019, but show signs of recovery
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Jaguar Land Rover's vehicle sales were hit by the weakening Chinese market and falling European demand for diesels.
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Automakers & Suppliers
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Aston Martin draws suitors after profit warning
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Aston Martin is reportedly holding more talks with potential investors as it comes under growing financial pressure. Canadian billionaire Lawrence Stroll, China supplier Contemporary Amperex Technology Co. and Geely Holding are among the suitors, reports said.
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