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Toyota to build plant in Cote d'Ivoire

Toyota signed a deal with Cote d'Ivoire's government on Thursday to build a vehicle assembly plant in the West African nation, the office of the country's prime minister said in a statement. The statement did not give details on the number or type of vehicles Toyota will produce in Cote d'Ivoire, but it said the process for establishing the plant would be launched before the end of the year. As part of its push into the continent, Toyota Tsusho in 2016 acquired French automobile retailer CFAO, which operates in 35 countries in Africa. Faced with stagnant sales in developed economies, automakers including Toyota, Volkswagen and Nissan are seeking to break into Africa, considered one of the world's last untapped markets for new cars.

SAIC Maxus unveils new D60 SUVs

Chinese carmaker SAIC Maxus unveiled its latest version of D60 SUVs in Shanghai on Tuesday. The model, built based on big data of around 1.5 million owners, is available in five variants, with prices ranging from 99,800 yuan to 149,800 yuan. The carmaker also showcased its latest efforts in electrification at the event, with the electric SUV Euniq 6 and the plug-in hybrid version to hit the market later. The brand Maxus originates from the LDV Maxus of British commercial vehicle manufacturer LDV Group. SAIC acquired LDV's intellectual property in 2009 and established the SAIC Maxus subsidiary in 2011. Maxus models are now available in 48 countries and regions, and overseas sales have exceeded 50,000.

US auto sales climb in August

US auto sales are expected to rise 5 percent in August from the same period a year ago, thanks to strong volume from higher manufacturer incentives and higher average sales prices, according to JD Power and LMC Automotive. The consultancies see total US vehicle sales of about 1.62 million units in the month, with retail sales of new vehicles expected to rise 5.8 percent to 1.4 million units. "Strong volumes coupled with higher average sales prices means that consumers will spend more purchasing new vehicles in August than any month in history," said Thomas King, senior vice-president of the data and analytics division at JD Power. Average vehicle prices reached new records of $33,322 in August.

Suzuki, Toyota to purchase stock

Japan's Suzuki said on Wednesday it will buy 0.2 percent of Toyota, while Toyota will take a nearly 5 percent stake in the small-car specialist, as part of the latest developments in the rapidly changing global auto industry. Suzuki will buy Toyota shares worth 48 billion yen through the market, and Toyota will pay some 96 billion yen for 4.94 percent of Suzuki. The two in 2017 had signed a memorandum of understanding to discuss an operational tie-up. By teaming up, they will tackle challenges in new fields like autonomous vehicles. Toyota offered engineering prowess, such as hybrid technology, while Suzuki, which enjoys enormous successes in India, has voiced concerns about staying competitive on its own.

Chengdu Motor Show to meet demand

The 22nd Chengdu Motor Show, which will run from Sep 5 to 14, is expected to attract more than 130 automakers showcasing more than 1,600 vehicles, according to the event's organizers. With a 200,000-square-meter exhibition space, the auto show is expected to receive 750,000 visitors. The scale of the exhibition will be 30 percent larger than last year. BMW, Mercedes-Benz, Audi, Lexus, Great Wall and BAIC will increase their areas of exhibition to show off new models and the latest technological innovations.

Motoring - Agencies

(China Daily 09/02/2019 page19)