China's car sales are expected to benefit modestly from the package of stimuli the authorities announced last month, but carmakers should do their part to survive the flagging market, according to analysts and industry insiders.
Automobile markets in China's third- and fourth-tier cities are showing strong momentum and the demand for vehicles there is expected to grow, boosting the country's auto industry, officials and insiders said.
The automotive industry is undergoing a profound transformation as traditional carmakers integrate with 5G technology to facilitate secure and fast data communications for future mobility.
Beijing Electric Vehicle Co, China's largest electric car producer, has vowed to continue moving upmarket as customer demands change in China.
Investment in the British car industry halved last year and surveys show consumers and businesses are more anxious about the economic outlook due to uncertainty about future trade with the European Union.
China sold 28.08 million cars last year, down 2.76 percent from 2017, marking the first fall since 1990 in the world's largest auto market - and the prospects will be no better this year, said officials of the country's leading industry association.
SAIC Maxus Automotive Co is to finish building its first overseas plant this year, as part of the carmaker's efforts to expand its presence in the international market, according to a senior executive at its parent company SAIC Motor Co.
BMW AG expects solid growth in China this year, driven by its biggest product plan after a successful 2018, according to a top executive.
Volkswagen AG and Ford Motor Company are partnering to develop pickups and vans and explore cooperation in autonomous driving and electric cars, possibly in Europe and China, to share costs and enhance competitiveness in the fast-changing automotive industry.
Electric car startup Byton unveiled its first showroom, called Byton Place, on Friday in Shanghai, giving customers a glimpse into the intelligent lifestyles it champions in an era of new mobility.
Audi's A6L, which first rolled off FAW-Volkswagen's plant in 1999, is probably the most popular and well-known premium car in China, due to its extended wheelbase.
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