Top Ten Hot Events in China's Auto Industry in 2010

2010 is definitely an unusual year for the Chinese auto industry.

To sort out various events in the Chinese auto industry in 2010, all show the imprint of the Chinese auto market in this year's development. It is these events that have made the entire Chinese market a global focus and deserve our attention.

Event I: China's auto market catches up with the US ■ Hotspots: 18 million vehicles China's autos have maintained a steady growth of around 30% in production and sales almost every month this year. A related person in China Automobile Association expects that China’s auto sales this year are expected to reach 18 million vehicles, an increase of 32% year-on-year. This means that China will surpass the auto giants of the United States in production and sales data for the second consecutive year, and will break the highest sales record of the 17 million vehicles previously set by the United States.

Impact: In the long run, China's auto market is still recognized as having great potential, which has determined that the Chinese market will continue to be a hot spot for investment by multinational car companies in the future.

Event Two: Touching the Automotive Industry at the Beijing Auto Show Context â–  Hot spots: An unprecedented scale on April 23, Beijing car opening. Major international automakers have positioned the Beijing Auto Show at the International Auto Show A. A total of 2,100 manufacturers from 16 countries and regions have participated in the show. 990 vehicles have participated in various exhibitions, 89 in the world, 41 in Asia, and 35 in China. The concept car is the largest in history.

Influence: As the Chinese auto market has a certain degree of ability to influence the direction of the future market, and the degree of importance attached to the participation of manufacturers has increased, the Beijing Auto Show has more clearly gathered the context of the future development of the auto industry.

Event 3: Toyota Apologizes to Chinese Consumers â–  Hotspot: Recall March 1st, Toyota Motor President Akio Toyoda, after attending the US Congress hearing, will place his second apology in China on a series of quality issues concerning Toyota Motors. A press conference was held to explain to Chinese consumers and an apology was expressed to Chinese consumers.

Influence: Toyota's “recall” incident has caused a worldwide uproar. Although Toyota eventually “rehabilitated”, “recall” has caused it to suffer a huge blow and has sounded a warning to the global automotive industry.

Event 4: Geely officially merges Volvo ■ Hotspot: $1.8 billion On August 2, Geely's acquisition of Volvo was carried out in London. Geely completed the acquisition of the Ford Motor Company’s Volvo business unit, with a total acquisition of US$1.8 billion. So far, the largest overseas merger and acquisition case of Chinese private enterprises has gone through legal procedures. After the successful merger and acquisition, Geely Group becomes the first multinational automobile company in China.

Impact: Geely has explored a new path for overseas acquisitions by Chinese auto companies, enabling China to have a world-renowned auto brand with international competitiveness, entering the international high-end car market and gaining a certain share.

Event 5: Tengzhong failed to acquire Hummer ■ Hot spots: Hummer On February 25th, Hummer, Tengzhong and GM announced that Tengzhong failed to acquire Hummer, and General Motors will shut down Hummer. Prior to this, Assistant Minister of Commerce Wang Chao publicly denied that the Ministry of Commerce had rejected Tengzhong’s acquisition of Hummer.

Influence: The global auto market is undergoing gradual acceptance of new energy vehicles and abandonment of high-fuel vehicles. Tengzhong's acquisition of Hummer is more like a farce, but its courage is still worthy of recognition.

Event 6: GAC 640 million yuan in hand Gio â–  Hot: 640 million yuan December 9, the industry's long-awaited GAC marriage Gio finally came to an end, Guangzhou Automobile invested 640 million yuan and Gio to set up a stock ratio of 51 49 joint venture company. This is the first case of the auto industry to acquire private enterprises by state-owned enterprises.

Influence: Under the state's encouragement of merger and reorganization of state-owned auto companies, the merger and reorganization of private enterprises is the normal economic rule. GAC has provided a standard case for breaking regional restrictions and mergers.

Event 7: Oil price adjustment is difficult to slow the pace of car purchase ■ Hot spot: Small-displacement On October 26, the National Development and Reform Commission announced that at zero hours, the price of steam and diesel will increase by 230 yuan and 220 yuan per ton, respectively. After enjoying the first cut in oil prices this year on June 1 this year, Chinese consumers have re-entered the era of high oil prices. However, China’s auto market is still booming and it is expected to continue to create new sales records before the end of the year.

Impact: Despite rising oil prices, the cost of vehicles will increase again. However, Chinese consumers have begun to shift their consumption structure and purchase more small-capacity passenger cars with a capacity of 1.6L or less to meet demand.

Event 8: smart online sales were sold out ■ Hotspots: Online sales On September 9th, on Taobao, a short time of “3 hours and 28 minutes, 200 Mercedes-Benz Smart hardtops were sold out”, which quickly ended the original A 21-day online group buy car event.

Influence: Through Smart's hot sale, you can see the hope of selling your car after years of silence. The most important thing is to allow auto companies to expand their reach in the nearly closed car sales field and win new and bigger ones. The development of space.

Event 9: Audi sells 1 million units in China â–  Hotspot: 1 million units On October 20, FAW-VW Audi announced that Audi has become the first high-end car brand in China to accumulatively sell 1 million vehicles. With the next "1 million" goal, Audi said it will be achieved in the next three years.

Influence: The sales volume for the past 22 years is planned to be completed within 3 years. This means that after years of growth, the luxury automobile market in China has now entered an era of explosive growth competition.

Event #10: SAIC Motor's 500 million U.S. Dollar Shares General â–  Hot Spot: 0.97%

On November 18th, Shanghai Automotive Group Co., Ltd. announced that its wholly-owned subsidiary, Shanghai Automotive Hong Kong Investment Co., Ltd., received US$15,151,515 ordinary shares of US General Motors for US$33 per share, totaling US$499,999,995, which is approximately US General Motors’ total. 0.97% share capital.

Impact: SAIC and GM’s deepening strategic partnership has provided Chinese companies with more advantages in terms of enhancing their R&D capabilities and expanding overseas markets, and has also provided new models for Chinese companies to go global.