With the Baojun brand, GM wants to compete in the fast-growing market for new cars in smaller Chinese cities targeting first-time buyers with a budget of around $10,000. Domestic Chinese rivals include Chery Automobile, Geely Automobile Holding and BYD.
And as it surely has happened to so many others, one quick look didn't satisfy our protagonist's curiosity (or possibly admiration) so he let his guard down and turned his focus away from the road to get a 360 view of the young woman… See what happens next after the break in the security camera footage.
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Well, in Saab’s case it looks like we haven’t seen the end just yet. The Swedish firm continues to face a cash-flow problem. Thus, it issued a press release concerning the subscription notice for 5 million shares under a €150 million agreement between Swan and GEM Global Yield Fund Limited.
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The new small car will be a little larger than the low-cost Etios that is sold in India. A 1.5-liter gasoline engine will power it and prices are expected to begin from under 1 million yen (approximately US$12,853).
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As if it weren't troublesome enough that China reaps all the benefits of free trade to sell its products everywhere while enforcing all kind of rules when it comes to imports (did you know, for example, that only 20 foreign films are allowed for release in China each year?) or opening a local business, the country has also established notoriously lax patent and copyright laws.
While not in significantly large numbers, many Chinese companies have targeted the automotive industry creating various knock offs of European and Japanese vehicles. Longtime Carscoop reader John F.T. from Norway* discovered yet another copy while browsing on a local online marketplace.
Caterham said that even though it has had a “long-standing presence” in the Far East, most notably in Japan, this will be the first time the Seven will be available in China.
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At a press event on Monday, BMW sales chief Ian Robertson said that he expects the brand’s sales in China to grow, albeit not at the extraordinary rate of 61% that it achieved in the first half.
"In the second half of the year we will not have such a fast growth rate in China as in the first half because of the high year-earlier level of comparison, but will still have growth," said Robertson.
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The reason for this shift is that Volvo’s greatest asset, safety, is not a unique selling point any more now that most rivals have made similar advances in this sector.
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To celebrate the launch, Fiat crafted a special version named 500 “First Edition” featuring bodywork graphics by five young Chinese designers. The special edition will be available in a limited run of just 100 numbered units ahead of the city car’s regular launch in China on September 15.
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The latest edition included 65 brands and 161 separate models in nine segments and is based on responses from 4,979 potential buyers of new-vehicles located in 53 cities.
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The solution – to companies such as BAIC, Dongfeng, Chang’an and others – is to seek talent abroad; in Germany, Italy, Japan, the UK and USA. Research and development centres are popping up in Nottingham and Detroit and recruitment fairs are being held in Munich, Stuttgart and Aachen.
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In addition to the above agreement, Saab announced the formation of a Sweden-based joint venture company between itself and Youngman called NPJV, which will focus on the development of three new product models.
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This project began in 2008, cost around US$33 billion and employed approximately 10,000 workers. It is expected to carry double the number of passengers than before (80 million versus approximately 40 million), whilst also reducing the time it takes to make the journey from 10 to less than 4 hours!
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Only this time the Germans are Daimler’s executives, not Volkswagen’s, and the other signatory is BAIC (Beijing Automotive Industry Corporation).
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Do you want to know Chrysler’s share in this massive car market? A measly 31,000 in 2010 and a projection for just 40,000 in 2011. Therefore, it is only natural that the American carmaker is looking for ways to increase its share in this rapidly expanding market.
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The new plan calls for the introduction of 52 new cars for fiscal years 2011 to 2016, or about one new vehicle every six weeks.
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The pre-payment is to be received this week, giving Saab a much needed funding to pay its workers and suppliers. This, however, is only a short-term lifeline for the ailing company and the efforts to secure funds that will guarantee the brand’s future and restart production, which has been halted again since June 8, are ongoing.
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