Aug. 8, 2014, 7:46 AM
- China auto sales rose 9.7% to 1.3M vehicles in July, according to The China Association of Automobile Manufacturers. The mark falls short of the double-digit pace seen in May and June.
- Passenger car sales rose 11% to 11M in China for the first seven months of the year.
- German automakers (OTCPK:DDAIF, OTCPK:BAMXY, OTCQX:VLKAY) have gained 190 bps of market share this year to 21.5% share, while Japanese automakers (OTCPK:NSANY, TM, HMC, OTCPK:MZDAY, OTCPK:SZKMY, OTCPK:FUJHY, OTCPK:MMTOF) added 20 bps to 15.1%.
- Cars sold by Chinese automakers repped 37% of the market, while U.S. automakers (GM, [F) grabbed 12.8%.
Aug. 8, 2014, 6:56 AM| Comment!
Aug. 8, 2014, 4:50 AM
- BMW (OTCPK:BAMXY) is now the latest foreign automaker in China to cut its spare parts prices.
- The company says that it will lower its prices by 20% on average on more than 2,000 spare parts due to the anti-monopoly probe of China's National Development and Reform Commission.
- Many foreign automakers have announced price cuts in recent weeks including Mercedes-Benz, Jaguar Land Rover and Audi.
Aug. 1, 2014, 1:23 PM
Jul. 28, 2014, 10:45 AM
- BMW (OTCPK:BAMXY) says it will announce later today a deal with NRG Energy to let i3 owners to recharge their vehicles for free at NRG stations in California through 2015.
- The automaker will also partner with Robert Bosch to develop a charging station which can be sold to dealers and businesses for under $7K.
Jul. 18, 2014, 2:43 PM
- Buried inside an economic report from the Richmond Federal Reserve this week is an interesting tidbit on the auto industry.
- As part of its scan of the economic horizon for the Beige Book, the bank noted the massive wave of automobile industry recalls has only had a "slight adverse" impact on sales. Customer traffic was still up and new car sales strong on solid pricing.
- The read from Richmond is consistent with recent U.S. sales reports from major automakers, although with a slight disconnect existing between a "sale" and a "delivery" in the industry the confirmation is noteworthy.
- Chaos theory: Some industry analysts think recalls can actually spur sales as safety is teed up as a consumer issue and older cars replaced.
- Related auto stocks: GM, F, TM, OTCPK:FIATY, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, TTM, TSLA, AN, KMX, SONC.
Jul. 16, 2014, 3:08 PM
Jul. 16, 2014, 9:47 AM
Jul. 15, 2014, 7:27 AM
- BMW (OTCMKTS:BAMXY) says it will consider sharing battery technology with other companies if it would help drive down the cost of batteries for electric vehicles.
- "If Mercedes called us, we would be happy to find a way with Samsung SDI to supply them with battery cells," says BMW exec Klaus Draeger.
- Tesla Motors has already gone public with its support of open source technology within the EV industry.
Jul. 10, 2014, 11:09 AM
- China decides to waive a 10% tax on new electric car purchases as part of its support for the industry.
- The tax waiver will run until the end of 2017 and could help EV sellers in the region such as Tesla Motors (TSLA -1.3%), Volkswagen (VLKAY), and BMW (BAMXY).
- Shares of Chinese EV automaker BYD Company rose in Hong Kong trading off the development.
Jul. 7, 2014, 8:56 AM
- Retail automobile sales in China rose 14% to 1.47M units in June, according to fresh data from the Passenger Car Association.
- Sales for the first six months of the year are up 11% to 9.09M.
- Major automakers such as General Motors (GM), Volkswagen (VLKAY), and BMW (BAMXY) have been increasing their presence in smaller cities in China this year.
Jul. 4, 2014, 2:30 AM
- Confirming earlier reports, BMW (BAMXY) will open a new $1B assembly plant in Mexico, which will produce 150k cars a year. The facility will employ an initial workforce of 1,500, and begin assembling vehicles in 2019.
- Many automakers are shifting manufacturing facilities to Mexico, to take advantage of the country's growing industrial base and tariff-free access to the U.S. market.
Jul. 1, 2014, 1:50 PM
Jul. 1, 2014, 6:44 AM
- BMW's (BAMXY) new assembly plant in Mexico will be able to produce 150k cars a year, Reuters reports. The company has still not publicly confirmed the new facility, but is expected to make the announcement on Thursday.
- The new plant will rival Daimler and Nissan, which have announced their 50-50 joint venture in Mexico last week.
Jun. 17, 2014, 8:08 AM
- European car registrations rose 4.5% in May to 1.13M units to mark the 9th consecutive month of a year-over-year sales gain.
- All the EU nations showed positive growth during the month with the exception of Italy which saw a 3.8% falloff.
- Sales growth by automaker: Volkswagen (VLKAY) +9.6%, Peugeot (PEUGY) +4.3%, Fiat (FIATY) +5.6%, General Motors (GM) -6.8%, Renault (RNSDF) +18.8%, Daimler (DDAIF) +3.6%, Toyota (TM) +3.4%, Ford (F) -2.0%, BMW (BAMXY) -2.2%, Fiat (FIATY) -2.7%, Nissan (NSANY) +10.7%, Hyundai (HYMLF) -2.7%.
Jun. 13, 2014, 11:41 AM
- European Automobile Manufacturers’ Association President Carlos Ghosn calls on EU policy makers to allow the industry the flexibility to innovate.
- The Renault CEO says the EU needs to be "technology-neutral" as well as remove non-tariff barriers and invoke regulatory cooperation.
- European automakers (PEUGY, VLKAY, DDAIF, RNSDF, BAMXY) have argued in the past that strict EU regulations have kept them stuck in neutral.
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