Auto giants look to chinese market as engine of growth

Updated: Nov 24 2012, 07:47am hrs
Volkswagen plans to invest $18 billion in China by 2016

Volkswagen plans to invest 14 billion euros ($18 billion) in China over the next four years, its China chief was quoted by the China Daily newspaper as saying, as it speeds up its expansion in the worlds largest autos market. Volkswagen, which produces cars in China in partnership with SAIC Motor and FAW Group, is building four plants in China, the report said. Reuters

Nissan hopes for recovery as sales thought to dip 25%

Nissan, the most exposed of Japans carmakers to China, expects its November China sales to be around 45,000 cars, down about 25% from a year earlier. Sales are recovering following a plunge in September and October over territorial dispute, but it was early to tell when the impact will completely fade out, senior GM sales Hideki Kimata said. Reuters

BMW sees room for more growth in luxury car mkt

German carmaker BMW sees continued double-digit sales gains in China next year as the luxury car market there, at 9-10% of overall sales, still lags the developed world, where the luxury segment accounts for 15% of the total. The carmaker, which is building a second plant in China, expects to sell 1 million cars there over the next three years. Reuters

BYD hopes for turnaround with Si Rui sedan launch

Chinese automaker BYD (Build Your Dreams) may be hoping that Si Rui (pronounced suh-ray), the name for its new midsize sedan, translates into turnaround. The ailing company, which counts Warren Buffett as an investor, is banking on the new model to help spur a revival in sales. The car has made its debut at the Guangzhou auto show. AP