Automobile Industry 01 (Aug 08 - Sep 15)

[winston]

China Auto Industry

Mainland car sales hit as rebates end

The world's biggest car market has shifted gears from overdrive into reverse, with mainland passenger car sales declining last month for the first time in two years.


Source: SCMP

[winston]

U.S. lenders making more subprime car loans: report

NEW YORK (Reuters) - Lenders are making more subprime auto loans again, reversing the cautious approach they adopted after the credit crisis, an industry research firm said on Tuesday .

The portion of car loans made to subprime borrowers rose to 40.8 percent in the second quarter from 37.2 percent a year earlier, according to Experian Automotive, a unit of credit bureau and research firm Experian Plc.

http://www.reuters.com/article/2011/08/ ... inessearly

[winston]

China August Passenger Vehicle Sales Up 7.3% On Year At 1.1 Mln Units

[winston]

DJ Mercedes-Benz China Sells 123,590 Units In January-August, Up 41%
SHANGHAI (Dow Jones)--Daimler AG's (DAI.XE) Mercedes-Benz said Friday that sales of its passenger vehicles in China totaled 14,080 vehicles in August, without providing a year-earlier figure.

Sales of Mercedes-Benz, smart, AMG and Maybach vehicles rose 41% in the first eight months to 123,590 units, the company said in a statement, also without providing a year-earlier figure.

The company said sales of its flagship S-Class sedan rose 48% in the first eight months to 20,825 units. S-Class sales totaled 2,200 units in August.

In a statement, Klaus Meier, president and chief executive officer of Mercedes-Benz (China) said he was "confident" the company would reach its sales target for the year, without specifying a figure.

Source: Dow Jones Newswires

[winston]

not vested

DJ MARKET TALK: China Auto Firms' Peak Season In 4Q - Haitong Sec

1346 [Dow Jones] Haitong Securities says based on the China car sales data of the first eight months this year (total car sales during 8M11 rose 3.3% on-year), it believes that car sales have begun to rebound slightly (August sales rose 4.2% on-year, vs July's 2.2% gain, June's 1.4% increase), but still remain weak as a whole;

It maintains a Neutral rating for the China auto sector. Traditionally, 3Q is the slack season of car sales, while 4Q is the peak season, it notes.

"We expect cars sales will continue to grow in the next few months, as car makers will launch more new models and strengthen promotion."

However, it believes that the sales will continue to expand through natural demand, just not as fast as in the past two years which were mainly supported by government subsidy programs.

Dongfeng (0489.HK) is down 1.5% at HK$11.90, Great Wall Motor (2333.HK) adds 1.9% to HK$10.50 and GAC (2238.HK) rises 1.0% to HK$7.43.


Source: Dow Jones Newswire

[winston]

China Auto

DJ China September Passenger Vehicle Sales Up 8.79% At 1.32 Mln Units

BEIJING (Dow Jones)--China's passenger vehicle sales rose 8.79% in September from a year earlier to 1.32 million units, semi-official industry group China Association of Automobile Manufacturers said Thursday.

Passenger vehicle sales for the January-September period totaled 10.5 million units, up 6.38% from a year earlier.

Auto sales in China, the world's largest auto market, totaled 1.65 million units in September, up 5.52% year-on-year and up 19.19% from August, the association said.

Source; Dow Jones Newswires

[winston]

US Auto

September Retail Sales Stronger on Car Sales

WASHINGTON (Reuters) - Retail sales rebounded in September at their fastest pace in seven months as consumers shook off some of their concerns about stock market drops and political gridlock, potentially giving new momentum to the weak economic recovery.

Sales rose 1.1 percent from a month earlier, boosted by strong auto purchases, the Commerce Department said on Friday.

The reading beat the median forecast in a Reuters poll for a 0.7 percent rise. Sales growth during August was revised upward to 0.3 percent.

http://www.newsmeat.com/news/meat.php?a ... &buid=3281

[winston]

Japanese car maker Honda Motor Co Ltd has shut its Ayutthaya plant, which accounts for 4.7 percent of its global output, and said Friday it would stay closed until October 21.

Source: Reuters

[iam802]

Not a surprise.

--
Saab Files for Liquidation After G.M. Balks at China Deal

http://www.nytimes.com/2011/12/20/busin ... ation.html

[winston]

Last year, sales +4%. So how can they expect sales to go up 10% this year ?

Toyota Motor Corp, which operates car manufacturing ventures in China with FAW Group and Guangzhou Automobile Group Co Ltd, said on Thursday that it aims to sell more than 1 million cars in China this year, up more than 10 percent from the previous year, after sales rose 4 percent in 2011.

Source: Reuters