Renault Group plans to roll out five China-built vans through 2023 with local partner Brilliance China Automotive to tap the market for light commercial vehicles. The new products include small, medium and large vans, and some of them will be electrified.
While overall new-vehicle sales have rebounded three straight months, China’s electric vehicle market has contracted nonstop following a cut in subsidies in June 2019. To jump-start EV demand, the Chinese government this month came up with two proposals: promote battery swaps and encourage automakers to market EVs to rural residents. Neither of the plans is expected to generate meaningful results any time soon.
The contraction in the used-vehicle market has slowed after the coronavirus outbreak sent the market plunging 67 percent in the first quarter. In June, used-vehicle deliveries dipped 1.6 percent to 1.2 million, according to the China Automobile Dealers Association.
Toyota Motor Corp.'s China sales topped those of two major Japanese brands -- Nissan and Honda -- in June as well as over the first six months. Deliveries at the Toyota brand continued to accelerate after turning positive in April, jumping 26 percent to top 149,000 in June, according to figures disclosed by Toyota’s joint ventures with FAW Group Corp. and GAC Motor Co.