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Chinese auto brands losing ground to aggressive global rivals

BEIJING, China - China's automakers are the underdogs heading into next week's Beijing auto show, where foreign and domestic brands will jostle for attention in a market that is increasingly difficult for homegrown models.

China's auto sales growth in January tumbles to 7 per cent amid economic slowdown

BEIJING, China - China's auto sales growth tumbled to 7 per cent in January amid an economic slowdown and curbs imposed to fight smog and traffic. Drivers in the world's biggest auto market bought 1.85 million passenger vehicles, the China Association of Automobile Manufacturers said Thursday. It was the first time monthly sales surpassed 1.8 million. Auto sales growth is forecast to decelerate sharply from last year's 15.7 per cent expansion to about 8 to 10 per cent. Sales grew 17 per cent in December.

China auto market growth slows sharply in January

BEIJING/SHANGHAI (Reuters) - Growth in China's auto market slowed to 6 percent in January, a third of the rate seen in December, partly weighed down by sluggish sales of commercial vehicles likes trucks and buses. The relatively slow growth in the world's biggest auto market was also due to the week-long Chinese New Year holiday, or Spring Festival, starting at the end of January that resulted in fewer working days compared with 2013, analysts said. Most dealers close during the holiday, which fell in February last year.

Car imports up more than two-fold in five years: data

SEOUL, Feb. 11 (Yonhap) -- The number of imported cars on South Korean roads jumped more than two-fold in the last five years, reflecting the steady rise in demand for foreign brands among local consumers, industry data showed Tuesday. According to the numbers released by the Korea Automobile Manufacturers Association (KAMA), the country had 19,400,864 registered vehicles as of late 2013, of which 4.7 percent or 904,314 were foreign-made. Last year alone, sales of foreign nameplates reached a record 156,497 units, up 19.6 percent from the year before.

China's auto sales rise 15.7 per cent in 2013 after pickup in December

BEIJING, China - China's auto sales rose 15.7 per cent last year to 17.9 million vehicles, boosted by strong demand in December, an industry group reported Thursday. Sales growth in China, the biggest auto market by number of vehicles sold, has slowed but still outstrips Western markets. Automakers including General Motors and Toyota reported record China sales in 2013 and BMW said this country became its biggest market.

China auto sales up nearly 14% in 2013

China's auto sales smashed through the 20 million mark last year, growing nearly 14 percent and extending its lead as the world's biggest car market, an industry group said Thursday. Sales in China, the world's biggest auto market since 2009, surged 13.9 percent to 21.98 million vehicles last year, the China Association of Automobile Manufacturers (CAAM) said, as a recovery in Japanese brands offset the impact of slowing economic growth. Passenger vehicle sales jumped 15.7 percent year-on-year to 17.93 million units, the group said in a statement.

Daimler gets nod from China to take stake in BAIC Motor

Germany auto giant Daimler said Tuesday it has been given the green light from China to acquire a 12-percent stake in BAIC Motor, a unit of Beijing Automotive Group. "This important joint move breaks new ground as the first ever investment by a non-Chinese automotive company in a Chinese original equipment manufacturer," the German car maker said in a statement. The move, originally announced in February, is aimed at increasing Daimler's presence in the all-important Chinese market.

China auto sales surge by 21 per cent in September as Japanese brands rebound

BEIJING, China - China's auto sales grew at their fastest rate in eight months in September as Japanese brands rebounded from a slump sparked by political tensions with Tokyo. Sales of passenger vehicles rose 21.1 per cent to 1.6 million vehicles, up from August's 10 per cent growth, an industry group, the China Association of Auto Manufacturers, said Friday. China is the world's biggest auto market by number of vehicles sold and sales growth still is stronger than in Western markets despite decelerating over the past year.

Chinese auto market to double by 2019

The global auto market will continue to expand in the coming years, driven particularly by China where sales will nearly double by 2019, consultants PwC said in a study Thursday. "While sales of automobiles and light trucks are set to nearly double in China between 2012 and 2019, the car markets in Europe and the United States will expand, but the number of registrations will meet the levels seen in the past only with difficulty," PwC wrote in a new study.

China investigating carmakers over pricing: industry body

By Samuel Shen and Michael Martina SHANGHAI/BEIJING (Reuters) - A Chinese automotive association is collecting data on the price of all foreign cars sold in the country for a government agency that has fined companies for price-fixing in sectors ranging from milk powder to jewelery, officials at the industry body said. The China Automobile Dealers Association (CADA) has been doing the research for the National Development and Reform Commission (NDRC) since last year, said Luo Lei, deputy secretary-general of the association.
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