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China Daily | Updated: 2015-07-06 07:03

Jaguar Land Rover executive shifts to Europe

Jaguar Land Rover China announced that Bob Grace, regional president of Jaguar Land Rover Greater China, will become president of its European operation after five years in China.

Grace received an Order of the British Empire in January for his contributions to the automotive industry and for promoting Sino-UK bilateral trade.

The Chinese market is now Jaguar Land Rover's largest market, with annual sales rising from 10,000 units in 2010 to 122,000 units in 2014.

The company didn't announce who will succeed him.

Infiniti, Shenzhen TV team up for Amazing Race

Infiniti is expanding its collaboration with Shenzhen TV to produce the popular reality TV show called The Amazing Race. China's second season of the show will be broadcast by Shenzhen TV during prime time every Friday night from July 10.

Infiniti will give 5 million yuan ($806,000) to the second season's winners, who are expected to donate the money to a public service organization or NGO.

"The Amazing Race perfectly meets our brand spirit GanAi, or dare to love. The new season will be more creative and bring more emotional experiences to the audience," said Lei Xin, executive vice-president of Dongfeng Infiniti.

VW will roll out budget cars in China

Volkswagen plans to launch a line of budget cars in China and possibly in other countries in 2018.

Europe's largest automaker has wanted to introduce a budget car to China but internal cost estimations had thwarted approval of the project.

The vehicles-to be built in China-will cost between 8,000 euros ($8,932) and 11,000 euros

The budget car is seen as important for VW's future plans, particularly in Southeast Asia.

Geely makes bigger push in SUV market

Geely will debut four sports utility vehicle models next year.

It will also introduce eight SUV models over the next three to five years. The company said its sales of SUVs has tumbled in recent years and that it hopes to boost sales of SUVs.

It expects its line of SUVs to account for 35 percent of its total portfolio.

The company sold 219,000 units, including sedan and SUVs, for the first five months of the year. SUVs only accounted for one fifth of its total sales

Car imports drop 21 percent in first 5 months

Imports of automobiles dropped 21.2 percent in the first five months of the year, from the same period last year.

The country imported 88,200 vehicles in May, down 30.3 percent year-on-year, according to the China Automobile Dealers Association.

In May 75,500 import vehicles were sold, 25.1 percent down on the same month last year.

The average price drop for each imported car was 80,000 yuan, the association found.

However, two brands bucked the trend as Mercedes-Benz and Porsche saw their imports grow in May.

Authorities seize hundreds of ride-sharing cars

Beijing authorities announced they seized 1,469 vehicles for illegally offering chauffeur services, 897 of which offered rides through mobile apps.

Since May 13, the city government has cracked down on vehicles offering such services without authorization in city airports, railway stations and major transport hubs.

Public security authorities warned local passengers that their personal safety is at risk because of the rising number of criminals offering such services.

Automaker issues asset-backed securities fund

SAIC-GM announced it will issue an asset-backed securities fund in an aim to raise a combined 4 billion yuan ($655.7 million).

The project would become the nation's largest private-label mortgage-backed securities in the auto sector.

In the past five years, the company has issued three asset-backed securities products.

Liaoning lays out green auto blueprint

The Liaoning provincial government expects more than 10,000 units of new-energy cars on regional roads by the end of this year and more than 30 percent of newly added buses, courier trucks and street sweepers to be new-energy vehicles.

By 2020, the provincial government wants 20,000 more new-energy vehicles on regional roads and 30 percent of governmental vehicles to be new-energy ones.

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