The future of China’s automobile sales tax

Speculations about the future adjustments of sales tax for automobiles are abound in the Chinese media especially with the recent publication of the State Council’s 2009 Work Arrangement for Energy Saving and Emission Reduction in early August.
“Study and readjust automobile sales policy” is clearly stated under Item 7, Update Relevant Economic Policies, in the document.
Local [...]


China’s automobile sales to exceed 11 million in 2009

By Linda Luo and Wayne Xing
In the first half of 2009, China’s auto sales rose 17.69 percent to hit the 6 million mark, posting record 6.10 million units, according to statistics released by China Association of Automobile Manufacturers (CAAM). That has made China replace the U.S. to become the world’s largest auto market in the [...]

Buffett reaps $1 billion profit on Chinese carmaker

Reuters – Warren Buffett’s Berkshire Hathaway Inc has realized a $1.02 billion paper profit on a 10-month-old investment in BYD Co after shares in the Chinese car and battery maker quintupled.
Berkshire’s MidAmerican Energy Holdings Co unit had agreed last September 26 to buy 225 million BYD shares at HK$8 each, a transaction then worth about [...]

BYD acquires Midea Coach to produce electric buses in Hunan

CHANGESHA, Hunan – BYD (01211.HK), China’s largest rechargeable battery maker and an ambitious automaker, sign an agreement on July 24 to take over Midea Coach Manufacturing Co., Ltd. at a price of ¥60 million ($8.8 million) from its owner Midea Group, one of the largest home appliances manufacturers in China, according to a company press [...]

Behind the Tengzhong-Hummer deal

On June 2, a day after it filed for bankruptcy protection, General Motors Corp. said it reached a memorandum of understanding (MOU) to sell its Hummer brand to a privately held Chinese company – Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. (Tengzhong).
According to the MOU, Tengzhong will acquire the rights to the Hummer brand, retain [...]

Automobile legend Yang Rong’s grand scheme

After seven years living in the U.S. “in exile,” former Brilliance China chairman Yang Rong has recently made public his grand scheme of creating a new automobile group with a goal of annually making 3 million vehicles in the U.S. and another 3 million in China with a total investment of at least $20 billion.

Government policy and Fiat’s return

After two years of searching for a new partner so as not to be left out of the express bandwagon of China’s automobile market, Fiat Automobiles SpA finally secured a 50:50 JV deal with Guangzhou Automobile Group Corp. (GAC). And it was also significant that a base agreement was signed in Rome in the presence [...]

BMW, government procurement, home made and independent brands

BMW’s recent appearance on China’s 2009-2010 government procurement list has created a stir not only among automotive circles but also the general public.
One website headline reads: “When a civil servant drives a BMW, the government official becomes a newly rich.”
A local analyst aptly points out that the strong reaction reflects two kinds of public sentiment. [...]

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