Yang Jian Managing Editor of Automotive News China, based in Shanghai, and Reporter covering China for Automotive News [email protected] 86-139-1851-5816 See All Staff Page Recent Stories CATL estimates net profit soars in 2022 CATL, China’s largest battery supplier for electric vehicles, estimates 2022 net profit will range from 29.1 billion yuan ($4.3 billion) to 31.5 billion. Market slides in early Jan. as COVID cases spike The Chinese new-vehicle market contracted sharply in the first 15 days of the month as a severe coronavirus outbreak upended auto production and deliveries. Dealership backlogs ease as 2022 ends Stockpiles at new-vehicle stores across all brands fell to a 32-day supply last month from a 56-day supply in November as shoppers took advantage of tax incentives for gasoline-powered models and subsidies for electrified vehicles, according to the China Automobiles Dealers Association. Used-vehicle sales shrink in Dec. to cap down year Sales of used light vehicles in China declined for the fifth straight month in November, dropped 12 percent to 1.14 million, the China Automobile Dealers Association said this month. Honda to test fuel cell system in Dongfeng’s commercial vehicles Honda has become the third global automaker seeking to develop fuel cell vehicles equipped with key technology for China following Toyota and Hyundai. Market drops 8.4% in Dec. but edges up in 2022 New-vehicle wholesale shipments industrywide contracted 8.4 percent to 2.56 million in December as China lifted pandemic-triggered lockdowns, sparking a wave of COVID-19 infections that undermined retail activity and production. VW Group deliveries slip in 2022 Volkswagen Group delivered more than 3.18 million passenger vehicles in China last year, a drop of 3.6 percent from 2021, enough to remain the country’s top automaker, the German auto giant’s China unit said Thursday. Mercedes, Audi, BMW deliveries slide in 2022 Mercedes-Benz, Audi and BMW -- the three largest luxury brands in China -- saw sales fall in 2022 amid pandemic-triggered lockdowns and ongoing semiconductor chip shortages. GM sales slump in 2022 on chip shortages, COVID disruptions General Motors delivered more than 2.3 million vehicles in China last year, a decline of 21 percent from a year earlier. Even with the sharp decline, China remained GM’s biggest market worldwide. Geely expects sales to grow 15% this year after rising 8% in 2022 Geely Automobile Holdings aims to boost its annual sales by 15 percent to 1.65 million in 2023. The company's sales topped 1.43 million in 2022, up 8 percent from 2021. SAIC-GM to produce Buick Electra E4 electric sedan in Wuhan SAIC-GM, General Motors’ passenger-vehicle joint venture with SAIC Motor, plans to build the Buick Electra E4 full electric sedan at its Ultium plant in the central Chinese city of Wuhan. Honda’s 2022 deliveries slip 12% Honda brand’s China sales skidded 18 percent to 138,152 in December, with year-to-date volume slipping 12 percent to 1.37 million. SAIC-GM venture launches output at second Ultium EV plant SAIC-GM, General Motors’ passenger-vehicle joint venture with SAIC Motor Corp., last week opened its second plant dedicated to producing full electric vehicles based on GM’s Ultium platform. Trade group predicts flat new-vehicle market in 2023 The new-vehicle market will remain flat in 2023 after government subsidies for electrified vehicles and tax incentives for fuel-powered vehicles were terminated at the end of December, the China Automobile Dealers Association predicted on Wednesday. For most global brands, shifting market means more lost ground Until last year, foreign automakers commanded more combined market share than their domestic rivals in China. But that has changed this year. And noticeably. Load More
Yang Jian Managing Editor of Automotive News China, based in Shanghai, and Reporter covering China for Automotive News [email protected] 86-139-1851-5816 See All Staff Page