4 news about Chinese automotive Market

1. China auto sales drop 2.3% in June 2015
China auto production and sales numbers are 1,850,800 and 1,803,100 in June 2015, dropped 5.8% and 5.3% respectively over last month, dropped 0.2% and 2.3% respectively over the same period in last year. It recorded the first year-over-year decline in more than two years.

2. GM China auto sales flat in June despite broad price cuts
GM's sales in China are roughly flat for June as broad price cuts introduced earlier in the year failed to boost demand. GM and its Chinese joint-venture partners sold 246,066 cars in June, virtually unchanged from the same month a year ago. It has largely failed to counteract sluggish auto sales so far despite slashing prices on 40 models in May by up to 20 percent, as China's economy grows at its slowest rate in 25 years. The automaker also faces rapidly shifting tastes among Chinese consumers, now showing a pronounced preference for small, affordable sport-utility vehicles.

3. Geely started building New Energy Commerical Vehicles plant in Nanchong, Sichuan province
On last Thursady, Geely started building a new plant in Nanchong city, Sichuan province. The new plant will have a capacity of 100,000 New Energy Commerical Vehicles per year and 50,000 gas engines per year. It's said 7 billion RMB will be invested for this project.

4. NEVS to build EV plant in Tianjin
China's National Electric Vehicle Sweden, which owns the assets of bankrupt Swedish automaker Saab, broke ground on a plant in the northeast China city of Tianjin to produce electric vehicles. NEVS said it would spend 1.2 billion RMB ($200 million) to build the plant, which will produce up to 200,000 vehicles annually.

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