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  • October 22, 2014
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  1. Subsidy cut drives mainland car stocks down

    Posted Jan 04th 2011, 12:00am by Celine Sun

    ... Celine Sun in Beijing The mainland scrapped subsidies for new car purchases at the weekend- following an earlier increase in sales taxes on small-engined cars- in a move that pushed car ... slid 1.3 per cent to HK$5.85. The declines came on a day when the Hang Seng Index 1.7 per cent, and were triggered by a Ministry of Finance announcement on its website that two of the car ...

  2. Vehicle sales exceed forecast for entire year

    Posted Dec 08th 2009, 12:00am by Kandy Wong

    ... by the end of the year. With sales in the United States and Europe suffering from the global slump, China is set to become the world's largest car market this year. Market watchers expect the US to record total sales of about 11.5 million units and predict that the market will not pick up again until 2011 at the earliest. Earlier this year, Beijing announced measures to boost the car ...

  3. Air-conditioned version of electric MyCar here soon

    Posted Sep 16th 2010, 12:00am by Lana Lam

    ... Lana Lam A faster, bigger and more expensive version of MyCar, Hong Kong's first locally designed electric vehicle, will hit the streets soon with a crucial component that was missing in the first model: air conditioning. Two years after it was launched in London, the team behind the two-seater MyCar are awaiting approval from the Transport Department before they release the new ...

  4. FAW Car invests 1.79b yuan to revive struggling Red Flag brand

    Posted Aug 27th 2010, 12:00am by Staff Reporter

    ... Neil Gough State-owned FAW Car is betting 1.79 billion yuan (HK$2.04 billion) that it can raise high the Red Flag once again. The Changchun-based carmaker said yesterday it is investing that sum in a plant with an annual capacity of 30,000 cars. It will be dedicated to resurrecting the historic but struggling Hongqi, or Red Flag, brand of high-end passenger cars. FAW Car said ...

  5. Guangzhou Auto set to make own-brand car

    Posted Jul 15th 2010, 12:00am by Staff Reporter

    ... represents GAC's ambitious 6.8 billion yuan (HK$7.79 billion) gambit to successfully develop its own brand of homegrown passenger cars. The first of these, a mid- to high-end car called the Trumpchi, is slated to enter production by September. An initial batch of about 500 is to be delivered by November, in time to serve as the official car of the 2010 Asian Games Guangzhou will host. ...

  6. Mainland car sales slow to an expansion of 33pc

    Posted May 11th 2010, 12:00am by Staff Reporter

    ... Neil Gough Growth in passenger car sales on the mainland continues to decelerate from the sky-high rates seen in the second half of last year, with April's sales rising 33.2 per cent to 1.11 million units, according to official data released yesterday. Passenger car sales in the world's largest vehicle market broke the one million mark for the sixth time in eight months ...

  7. Car sales in China last year surpassed US

    Posted Jan 09th 2010, 12:00am by Staff Reporter

    ... Isabella Steger More than 13.5 million vehicles were sold in China last year, Xinhua reports, making it the world's top car market for the first time. But sales are expected to slow this year. The report, which cited the China Automotive Technology and Research Centre (CATRC), said car sales in the United States totalled 10.43 million in 2009, 2.8 million fewer than the year ...

  8. Chinese-made car now world-class, says Peugeot

    Posted Nov 30th 2009, 12:00am by Kandy Wong

    ... Kandy Wong in Shanghai When Geely Automobile Holdings showcased the mainland's nascent vehicle industry with a single low-technology car in Detroit in 2006, carmakers around the world ... come, says Eric Apode, a vice-president of the Peugeot-Citroen China Technology Centre in Shanghai. Peugeot-Citroen makes cars on the mainland in a joint venture with Dongfeng Motor Group, ...

  9. Home-grown electric car hits city's roads

    Posted Oct 24th 2009, 12:00am by Adrian Wan

    ... Adrian Wan The city's home-developed electric car hit the streets yesterday at a price of HK$97,000, with the manufacturer predicting success despite licensing restrictions, a top speed of 64km/h and a lack of air-conditioning. The two-seater city car, a joint venture between Polytechnic University and the Italian design house Giugiaro, made its maiden journey in Hong ...

  10. GM and Mazda enjoy surge in car purchases

    Posted Oct 10th 2009, 12:00am by Kandy Wong

    ... Kandy Wong Robust sales at General Motors China and Mazda Motor last month suggest continued strong demand in the world's largest car market. GM said yesterday vehicle sales on the mainland in the first nine months of this year jumped 55.6 per cent to 1.29 million units, helped by strong sales of its minivan, thanks to government support measures to boost rural car ...




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