Shanghai GM overtakes VW joint ventures to become China market leader in 2005
Shanghai GM, General Motors Corp's flagship joint venture with Shanghai Automotive Industry Corp (SAIC), has overtaken Volkswagen's two joint ventures to become the market leader in China with car sales of 325,000 units in 2005.
BEIJING (AFX) - Shanghai GM, General Motors Corp's flagship joint venture with Shanghai Automotive Industry Corp (SAIC), has overtaken Volkswagen's two joint ventures to become the market leader in China with car sales of 325,000 units in 2005, the China Business News reported.
That represents 29 pct growth from 2004, said the report, citing figures released by the China Automobile Information Association.
Car sales for Volkswagen AG's two joint ventures in China for 2005 both fell more than 10 pct from a year earlier, said the report.
Shanghai VW, a joint venture between VW and Shanghai Automotive Industry Corp, posted sales of about 287,000 units in 2005, said the report.
Sales of FAW VW, a joint venture between VW and First Automotive Works (FAW) in northeast China, stood at around 270,000 units, the report said.
In 2004, Shanghai VW sold 355,000 cars while FAW VW sold 300,118 units.
The two ventures' combined market share fell to less than 20 pct in 2005 from 29 pct in 2004, according to the report.
Beijing Hyundai Motor Co, a 50-50 joint venture between South Korea's Hyundai Motor Corp and Beijing Automotive Group, held fourth spot with sales of about 233,000 units, rising 54 pct from a year earlier.
Guangzhou Honda Automobile Co Ltd, a 50-50 joint venture between Guangzhou Automobile Group and Honda Motor Co Ltd, was in the fifth position with sales of approximately 230,000 units. It sold 202,000 units in 2004.
Dongfeng Motor Co Ltd, a 50-50 joint venture between Nissan Motor Co and Dongfeng Motor Corp, sold 153,000 passenger cars in 2005, surging over 170 pct and recording the fastest growth rate among Chinese car makers, the report added.
The report did not provide a combined figure for the 2005 sales of all passenger cars in the country.
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That represents 29 pct growth from 2004, said the report, citing figures released by the China Automobile Information Association.
Car sales for Volkswagen AG's two joint ventures in China for 2005 both fell more than 10 pct from a year earlier, said the report.
Shanghai VW, a joint venture between VW and Shanghai Automotive Industry Corp, posted sales of about 287,000 units in 2005, said the report.
Sales of FAW VW, a joint venture between VW and First Automotive Works (FAW) in northeast China, stood at around 270,000 units, the report said.
In 2004, Shanghai VW sold 355,000 cars while FAW VW sold 300,118 units.
The two ventures' combined market share fell to less than 20 pct in 2005 from 29 pct in 2004, according to the report.
Beijing Hyundai Motor Co, a 50-50 joint venture between South Korea's Hyundai Motor Corp and Beijing Automotive Group, held fourth spot with sales of about 233,000 units, rising 54 pct from a year earlier.
Guangzhou Honda Automobile Co Ltd, a 50-50 joint venture between Guangzhou Automobile Group and Honda Motor Co Ltd, was in the fifth position with sales of approximately 230,000 units. It sold 202,000 units in 2004.
Dongfeng Motor Co Ltd, a 50-50 joint venture between Nissan Motor Co and Dongfeng Motor Corp, sold 153,000 passenger cars in 2005, surging over 170 pct and recording the fastest growth rate among Chinese car makers, the report added.
The report did not provide a combined figure for the 2005 sales of all passenger cars in the country.
Neither the Subscriber nor AFX News warrants the completeness or accuracy of the Service or the suitability of the Service as a trading aid and neither accepts any liability for losses howsoever incurred. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon.
