| |
|
Two Chinese automobile companies have started selling cars in Venezuela, according to a Dow Jones Newswire report.
China's Great Wall Motor Co. Ltd., the largest automobile company in China, and Cinascar, a Chinese automaker owned by GM Daewoo Auto & Technology Co., have set up car showrooms athwart the country to vie with the local automobile makers.
Venezuelan President Hugo Chavez, who is at present visiting Russia, said on Wednesday, July 26, that he plans to sign a deal with Russian President Vladimir Putin, will enable Venezuela to produce Kalashnikov rifles locally.
Additionally, Russia's defense minister rebuffed Wednesday the U.S. call to reconsider the $1 billion agreement on supplies of military planes and helicopters to Venezuela.
               
Since Chinas entry into the WTO government in 2001, an increasing number of automobile companies have made their front into the developing market space. A majority of them have come up with a variety of diversified products, cookery to customer demand for speed and oomph. With zealously endorsed drive for cost-cutting and technically superior systems & designs, and more and more competitive market landscape has emerged. All these developments have begun a price-based competition, which stirred mass creation and demand for automobiles.
In 2005, the sales and production figures for the Chinese automobile sector stood at 5.8 Mn and 5.9 Mn units correspondingly. China now comprises 9% of the total sales volumes for the worldwide automobile industry, with the passenger vehicle section acting as the growth driver.
BEIJING -- China produced 10.4 million motorcycles and sold 10.2 million in the first half of the year, up 38 percent and 35.8 percent correspondingly from last year, said a report exposed on Thursday by the China Association of Automobile Manufacturers (CAAM).
Analysts said the rapid growth of the motorcycle sector has chiefly resulted from the consumption tax decrease of motorcycles below 250CC from 10 percent to 3 percent that came into force in April.
Due to increasing costs in the motorcycle sector, activated by the rising steel price and the completion of the Euro-2 emission standard, many small motorcycle manufacturers went insolvent in 2005 and established ones channeled their capital into more profitable sectors.
Official figures show the export value of motorcycles made in Southwest China's Chongqing Municipality that account for one third of the sector's production, augmented by 42 percent to 512.1million U.S. dollars in the first half of the year.
The "Indian Automobile Industry: An analysis" report provides a comprehensive analysis of competition in the industry, the prospect prospects, opportunities and roadblocks in the expansion of the Auto sector. The report gives an imminent into the Indian Automobile sector with respect to fresh trends and happenings. It has undertaken porter’s Five Forces Analysis to assess the auto industry on the height of competition. Apart from inter industry competition there are other forces also with which company competes in a business environment. This report provides detailed porter psychiatry for the benefit of industry participants to examine their competition and assist them in better decision-making.
Indian Automobile sector is high on expansion trajectory. Based on estimates, the total sales (domestic + exports) for FY06 would touch 10 million marks of which Commercial Vehicle Segment would contribute maximum. According to auto industry experts Indian Automobile sales would grow at a CAGR of 9.5% to 13008 million by 2010. To tap this large opportunity, Indian Automobile companies and worldwide automotive giants have announced huge expansion plans and are seeking answers for some critical questions like.
China Association of Automobile Manufacturers released statistics showing China's automobile production and sale amounted to 3.6303 million units and 3.5352 million units correspondingly in the first half of this year, up 28.94 percent and 26.71 percent from the same era of last year respectively.
The production and sale of passenger vehicles augmented by 40.30 percent and 36.53 percent correspondingly to 2.5963 million units and 2.5116 million units correspondingly, commercial vehicles climbed by 7.16 percent and 7.71 percent to 1.034 million units and 1.0236 million units correspondingly.
The production and sale of sedans rose by 50.26 percent and 46.90 percent to 1.8864 million units and 1.8039 million units, Multiple Purpose Vehicle (MPV) increased by 28.78 percent and 33.70 percent correspondingly to 95,600 units and 94,480 units respectively, Sports Utility Vehicle (SUV) jumped to 114.800 units and 114.900 units correspondingly and cross type passenger vehicles climbed to 499.500 units and 498.100 units correspondingly.
The statistics released by the General Administration of Customs of China also show that the imports of automobiles ascended to 104,000 units, an increase of 61.3 percent over the same period of 2005.
TASMANIA'S rising petrol prices have led to an augment in the number of service station customers driving left without paying.
The trend might force service station operators to make customers fund their fuel in advance, warns Tasmanian Automobile Chamber of Commerce chief Malcolm Little.
Motorists in Tasmania's urban centers should pay up to $1.47 a liter for unleaded petrol that has pushed the cost of a full tank for the average family sedan above $100.
"Obviously, with the increasing price of fuel it's becoming more of a burden on people and some people will resort to illegal actions," Mr. little said.
"In terms of dealing with it, if it continues, the industry has a number of options available. One of those, the more significant, is to go to pre-pay."
"That involves pumps being turned off and people having to pay for fuel before pumps are turned on and they're able to fill their car."
In Western Australia, petrol stations have suffered so many petrol thefts they now use security guards to look after drivers filling their tanks.
Today's the huge day for the meeting between GM CEO Rick Wagoner and Renault/Nissan CEO Carlos Ghosn - and Ghosn is receiving in front of the press by declaring his interest in GM and non-interest in most important GM itself. In a conference with the New York Times, Ghosn said that he wants GM to join the alliance, creating a three-part global auto empire that can be enjoined by the end of the year. Ghosn portrayed his attention in broadening the alliance as a diplomatic move that will be dissuaded if GM management were not in favor of it. In another meeting with CNBC, Ghosn added that he was not interested in running more than two auto companies. The Times suggests that Nissan and Renault each might take a ten-percent share in General Motors; the 20-percent share of GM can cost $3 billion.
Gasoline prices have backed ever so somewhat away from the $3 per gallon mark in the Buffalo area.
The average price of a gallon of unleaded gas in Erie and Niagara counties was $2.95 on Thursday, according to figures unconfined Friday morning by the American Automobile Association.
That was cut down one cent from Wednesday's average of $2.96.
AAA calculates daily averages after collecting the results of credit-card purchases at chosen gas stations.
Prices have remained quite steady in Western New York for the past month. The average on June 14 was $2.93 per gallon.
"People are angry, but they are adjusting." That's how Mantel Williams, spokesman for the American Automobile Club, summed up the community mood over mounting gasoline prices for our Washington Bureau.
"Whenever (auto manufacturers) put a hybrid on the market, there is a waiting list for it," he told reporter John Machacek for a story published Monday. Indeed, a CNN poll in May establish that 60 percent of adults careful buying a hybrid vehicle because of higher gas prices.
Congress, too, is sentiment the high-price pressure to act. Nationwide, gas prices hit a standard of $2.973 Monday, up 64 cents per gallon over last year, according to the U.S. Energy Department. Average prices in the Lower Hudson Valley choice from $3.22 in New City to $3.29 in Carmel to $3.27 in Yonkers, according to an Internet search.
The region's three representatives — Eliot Engel and Nita Lowey, both Democrats, and Sue Kelly, a Republican, are either sponsoring or co-sponsoring "vehicle and fuel choice" bills, as the state's two senators, Democrats Charles Schumer and Hillary Clinton. Engel's bill, the "Fuel Choices for American Security Act," is bipartisan legislation intended at reduction 2.5 million barrels of oil daily within a decade, about what we import now from the Persian Gulf region.
New Delhi, (IANS) India's automobile exports witnessed a robust 27.32 growth during the April-June quarter, which saw the industry record an largely 19.96 percent go up in sales as compared to the same period previous year.
'Overall the automobile industry witnessed a growth of 19.96 percent in April-June quarter as compared to the corresponding period in 2005,' data released Tuesday by the Society of Indian Automobile Manufacturers (SIAM) said.
'Automobile exports registered 27.32 percent growth rate in the first quarter of the year 2006-07 over the same period last year.'
In the domestic market, the increasing growth of dissimilar kinds of passenger vehicles was 20.40 percent with passenger car footage higher demand of 23.72 percent while utility vehicles registered a lower sales growth of 7.81 percent during the first quarter.
SAO PAULO, Brazil, July 6 (Reuters) - Brazilian automobile production fell 6.7 percent in June from the earlier month and new vehicle sales came down 9.6 percent in the period, the national automakers association said on Thursday.
Output fell to 225,800 vehicles in June, compared with 242,000 in May, the association, known as Anfavea, said. Sales in June fell to 148,400 from 164,100.
Automobile manufacture rose 4.4 percent in the first half of 2006 from the same period a year earlier to 1.3 million vehicles, and sales increased 7.6 percent to 861,200 vehicles, as a decline in the country's benchmark interest rate made it cheaper for Brazilians to take on car loans.
China's automobile sales surged by 26.71 percent in the first half of the year to attain 3.53 million units, according to figures unconfined Friday by the China Association of Automobile Manufacturers.
The output of automobiles posted an even stronger increase of 28.94 percent in the first six months to 3.63 million units.
The production and sales of sedans ascend by 50.26 percent and 46.9 percent, respectively.
The country formed 2.59 million passenger vehicles between January and June, up 40.3 percent year on year.
The sales of passenger automobiles rose 36.53 percent to reach 2.51 million units.
The output of commercial automobiles went up by 7.16 percent to reach 1.03 million units, while sales gained 7.71 percent to reach 1.02 million units.
Industrial forecaster said the growth might slow down in the second half of the year, as stocks of some manufacturers are building up.
They approximation that the growth rates of both production and sales for the whole year might stand around 20 percent, with production probable to hit 6.8 million units, an augment of 1 million units over 2005.
The BharatMatrimony.com group has launched IndiaAutomobile.com, a portal that helps customers in buying and selling new and pre-owned cars.
A company discharge said that IndiaAutomobile.com was the first ISO 9001 certified automobile portal in the country.
Besides serving customers make decisions on buying and selling cars, the portal moreover offers services like loans and insurance.
With the launch of this portal, the company plans to provide to the automobile segment, according to Murugavel Janakiraman, founder and chief executive of Bharat Matrimony group.
The company also plans to insert a separate section on ‘bikes’ soon.
From online matrimony business, the Chennai-based Bharat Matrimony group has extended into other online businesses like jobs (clickjobs.com), property (IndiaProperty.com), and secret market (IndiaList.com). It has over 7.5 million members universal, the release added.
GREENSBURG, Indiana -- Honda today announced plans to build a $550 million automobile plant on a 1,700-acre area in Decatur County, Indiana, near Greensburg, 50 miles southeast of Indianapolis. The plant would start mass production of fuel efficient 4-cylinder vehicles in fall 2008, with an annual manufacture capacity of 200,000 vehicles and employment of 2,000 associates.
The new Indiana plant, Honda's sixth auto plant and 14th major plant in general in North America, would assist boost Honda's total North American auto production capacity from 1.4 million units to more than 1.6 million units in 2008, produce Honda's employment in North America to more than 37,000 associates and augment North American capital venture to more than $9 billion.
"Honda's success in America has been based on our strong commitment to our customers," said Koichi Kondo, president of American Honda Motor Co., Inc., and chief operating officer of Honda's North America Region operations. "We believe the great state of Indiana has what we need to continue this success -- an outstanding community of people, excellent transportation systems, and the necessary infrastructure to support industry. It is an ideal location in the Midwest both for our network of parts suppliers and as a central location for all of our customers across the country."
| | | |
