Home > 2006 > April

China may not meet expectations of investors

"Domestic Chinese companies will take up about 40 percent of China’s automobile market in 2010,” commented Graeme Maxton, an automotive industry economist with the Economist Group and chairman of its 3rd China Automotive Industry Roundtable  on March 7-8 in Shanghai.   Maxton based his prediction on four factors: government support in

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Consumption tax put into effect on April 1

BEIJING – The new automobile consumption tax was put into effect on April 1. The new consumption tax scheme, announced by the Ministry of Finance, is divided into six categories based on engine displacement ranges, levying a 3 percent rate for the 1.5L and below range and a maximum 20 percent

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Robust sales in first two months of 2006

–Automobile sales in China increased 47.75 percent year-on-year to 1.0113 million units in the first two months of 2006, according to the latest statistics from the China Association of Automobile Manufacturers (CAAM).   Passenger vehicle sales continued to dominate and drive up sales of total automobiles, up 67.61 percent to 763,600 units.

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Dongfeng-Honda debuts Civic

BEIJING – Dongfeng-Honda debuted the all-new Civic at a ceremony held in Beijing on March 20. The model will officially go on sale on April 22 through Dongfeng-Honda’s 90 exclusive dealers in China. The company plans to sell 50,000 units of the model this year.

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Hafei Lobo hits Russian market

Irito, distributor of many Chinese cars in Russia, introduced the Hafei Lobo in mid-March in Moscow. Priced at $7,990-$9,990, the Lobo is intended to compete with Russian-built Lada models.    According to an Irito executive, the company has ordered 500 units of the Lobo from China andhopes to sell 1,200 this

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