Posts Tagged automotive industry
Chinese Luxury Car Market Creates a Great Leap in the International Forum
Posted by alibabarika in Automotive Articles on January 15, 2011
Automakers are enjoying its sales figures in great parts of the globe. Moreover, one of the biggest leaping territories when it comes to automobile market is China. China’s luxury car market consists of Audi, Cadillac, Mercedes-Benz, BMW, Lexus, Porsche and Volvo. These automakers have benefited in the increase of market to more than 45 percent in just one year. The remarkable market growth has occurred in the early part of 2004 to the later part of 2005.
According to R. L. Polk & Co., a reliable provider of automotive information and marketing solutions, the most significant growth of the luxury market can be attributed to Jiangsu province which has created 84 percent increase. Next to Jiangsu is Guangdong, making 79 percent recorded growth in market. On the other hand, Zhejiang province also bagged a 54 percent increase.
Ford Sells Volvo Cars to Chinese Company
Posted by alibabarika in Automotive Articles on January 15, 2011
In March of 2010, the Ford Motor Company reached an agreement with a Chinese company to sell the Volvo brand. Ford purchased Volvo Cars from Volvo AB back in 1999. Volvo AB shares the brand name with Ford and produces heavy vehicles under the brand name.
When Ford bought the company in 1999 they paid a total of $6 billion, but the sale Volvo Cars to the Zhejiang Geely Holding Group will only get them a total of $1.8 billion. Ford has been divesting itself of many car brands lately as the company implements a new strategy where it begins to focus more on the company’s core brands.
The Top 5 Automobile Producing Countries of the World
Posted by alibabarika in Automotive Articles on January 15, 2011
Within the last ten years there have been major changes when it comes to the automobile industry. Not only have the technologies changed with the rise of more fuel-efficient and eco friendly vehicles taking over the market place but there also has been a major change in the world leaders when it comes to automobile production.
In 2000 the United States lead the world in production with 12,799,857 units produced, followed by Japan at 10,140,796. By 2005 the US was in a steady decline while other markets rose sharply. The most noted was China whose automobile production doubled by 2005 to 5,708,421 units produced.