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The latest Global Automotive Barometer survey indicated a positive business climate in the automotive supplier industry and a continuing strong momentum of the Chinese auto market. According to the survey, the outlook for the global automotive supplier industry looks much more favorable than it did a few months ago.
German carmaker Daimler AG on Tuesday reported a first quarter net profit of 612 million euros($817 million), up from a loss of 1.3 billion euros a year earlier, as rising sales of its luxury cars in the US and China helped the company's turnaround.
Hybrid and pure electric auto sales will account for over 15 percent of the Chinese auto market and 7 to 12 percent of the global auto market by 2020, the Securities Times reported Wednesday. Cheng Qingquan, chairman with the World Electric Vehicle Association, said development strategy, financial support and technology innovation are key to the industrialization of new energy vehicles.
The businessman climbed into the Rolls Royce Phantom with the gold-plated Spirit of Ecstasy hood ornament and sank his feet into wine-red carpet. He says he has a Mercedes S600 sedan and a Jaguar sports car at home but needs something for work.
BYD Co, the Chinese carmaker backed by Warren Buffett, said first-quarter profit more than tripled on higher demand for vehicles in the world's biggest automobile market.
Chery Automobile Co, China's largest independent carmaker, has inked an agreement with Better Place, a leading US electric-vehicle infrastructure firm, to collaborate on new technologies for China's auto market, the company said Monday.
Toyota Motor Corp, Volkswagen AG and Nissan Motor Co are raising production capacity and sales forecasts in China, betting vehicle demand will continue to grow even if the government scraps car-buying incentives.
Environment-friendly vehicles are very popular and discussed everywhere, but most of the time, electric cars are used for brand imaging. Chinese electronic car makers could obtain a strong advantage when entering the European market.
Volkswagen AG, Europe's biggest automaker, will build two plants in China as part of a 1.6 billion euro ($2.2 billion) expansion plan to capture growth in the world's most dynamic auto market.
Volkswagen AG's new head of China will have a tough act to follow: current chief Winfried Vahland brought home a $1 billion profit for the German carmaker last year after reversing losses and a slumping market share.
Zotye Holding Group, an auto manufacturer in Zhejiang province, held a ceremony on April 24, 2010, to celebrate the Zotye Lerio getting the "Beijing NN5E08" license plate. It was the first license plate for a pure electric car in Beijing.
China's car buyers have become an important force in the design decisions of automakers from Nissan to General Motors Co to Volkswagen AG. Their influence is starting to be seen in vehicles sold worldwide.
