GM said on 9th Nov 2009 that its sales in China last month more than doubled from a year earlier to 166,911 vehicles, continuing its monthly sales records this year in the chinese market, media reported.

From Jan to Sept 2009, SAIC booked 3.97 bn yuan in net profit, up from 2.23 bn yuan a year earlier, SAIC said on 30-10-2009.

SAIC, which runs vehicle manufacturing ventures with General Motors and Volkswagen, has been a major beneficiary of Beijing's policy support.

E Fund gets US$ 1 bn for overseas investment (China Daily)

E Fund Management Co, China's fifth-largest mutual fund company by assets, said on 26th Oct 2009 that the quota it received from the government to invest in overseas securities indicates that regulators believe the global economy has exited the worst of the financial crisis and will generate business opportunities for domestic fund houses.

CAE 3rd Qtr result will be out on 2nd week of November.

Hope it will be good.

Straits Times, 26th Oct 2009

China resumes quotas for overseas investment (QDII)

Hope it will benefit some of the S shares in the long run.

"As a locomotive of the world economy, China keeps growing at a high rate," Volkswagen Group China Chief  Executive Winfried Vahland said in the statement on 12th Oct 2009.

Volkswagen sales in mainland China and Hong Kong in the January-September period of 2009 rose 37% to 1.06 million units, from 775,341 units a year earlier.

Volkswagen makes vehicles in China through its joint ventures FAW-Volkswagen Co. and Shanghai Volkswagen Automotive Co.

starlene      ( Date: 30-Aug-2009 23:36) Posted: This was what i meant when I sais China Auto Elec will benefit from China Tariff cut on auto parts. SHANGHAI (AP) -- General Motors China and state-owned automaker FAW Group Corp. launched a 2 billion yuan ($293 million) joint venture Sunday to make light-duty trucks and vans, initially for the fast-growing Chinese market. GM said the joint venture will use two existing factories affiliated with FAW and have a capacity of over 100,000 vehicles. That is expected to double by the end of 2010, GM China Group President Kevin Wale told reporters in a conference call. Plans call for building a new assembly plant in Harbin, he said. China is a key growth market for GM, which is expanding here despite its difficulties in the U.S. market. "Light trucks and vans have a significant role in China and other parts of the world," Wale said. "Adding trucks rounds out our vehicle portfolio in China. It's really a key focus for future growth." The 50-50 joint venture, based in the northeastern Chinese city of Changchun, where FAW is also based, will make FAW-branded vehicles for the Chinese market, GM said in a statement. The venture might make GM-branded vehicles for export later, but the focus for now is on meeting demand in China, Wale said. Production will be at the existing factories in southwestern China's Yunnan province, a facility owned by FAW-affiliate Hongta Yunnan Automobile Manufacturing Co. Ltd., and at Harbin Light Vehicle Co. Ltd. in the northeastern city of Harbin, GM said. It said the two companies will conduct research and development, exports and after-sales support as well as vehicle production. "Our new joint venture combines the expertise of two industry leaders in a partnership that benefits both," Nick Reilly, GM executive vice president, said in a statement. "It will address demand in China and other markets for high-quality, affordable products in one of the industry's most robust segments, while complementing the portfolio of products that GM and FAW currently offer," Reilly said. Discussions on the venture began in early 2007 and it obtained regulatory approval in July, GM said. FAW, originally known as First Auto Works, was founded in 1953 and began production in 1956. It sold 1.53 million vehicles, including sedans, vans and trucks, in 2008. GM's sales in China jumped 38 percent in the first half of this year, helped by strong demand for its minivans and other small vehicles. The automaker sold more than 100,000 vehicles a month in China from January to June for a total of 814,442, a record for any half year, the company said. That compares with sales of 1,094,561 GM vehicles in China for all of 2008. Adding truck production will help expand the company's exposure in one of the few major markets that continues to grow. "These are quite different customers and quite different products," Wale said. He said he expected GM's commercial vehicle sales to reach 80,000 to 90,000 this year and to rise further next year. Buzz up! 1 Back to top imba1328 Joined: 06 Aug 2009 Posts: 35 Posted: Sun Aug 30, 2009 4:30 pm    Post subject: And both FAW and GM are customers of China Auto Elec. China Auto Electronics Group Limited Formerly known as China Transcom Technologies Limited. The Group's principal activity is manufacturing automobile wire harness and connectors. It has 8 manufacturing facilities in China and one in Central America. The Group is the OEM supplier for automakers such as Dongfeng Motor Corporation, Shanghai Volkswagen Automotive Company Ltd, FAW-Volkswagen Automobile Company Ltd, General Motors Corporation, Chery Automobile Company Ltd and Changan Automobile Group Ltd. The Group also manufactures crimping machines and moulds. In 2007, the Group disposed its telecommunication, data network products and transportation communication products division. Back to top imba1328 Joined: 06 Aug 2009 Posts: 35 Posted: Sun Aug 30, 2009 4:33 pm    Post subject: Thats a 2 billion RMB JV!

For the first nine months of the year, China's vehicle sales increased  34.2% y/y to 9.66 million units.

Automobile sales in China are expected to break the 10 million unit mark in the middle of October and surpass 12 million for the full year of 2009, the China Association of Automobile Manufacturers (CAAM) said on 13th Oct 2009.