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Ever since the rumor of a Chinese automaker possibly buying Fiat Chrysler Automobiles came to light last week, the various Chinese brands have been saying 'not us'. It seemed no one was interested in taking FCA to the dance, or wanted to admit it out loud. That changed today as Great Wall Motor revealed to Automotive News that it was interested in buying FCA, well part of it. Great Wall President Wang Fengying wrote in an email to Automotive News that the company is intending to buy Jeep and is "connecting with FCA" to possibly begin negotiations. Xu Hui, a spokesman for Great Wall said in a follow-up email that the company "has indirectly expressed interest in Jeep but has not yet made a formal offer or met with FCA's board." A statement from FCA says that it has not been contacted by Great Wall about Jeep or any other business matter. It doesn't come as a big surprise that Great Wall is only interested Jeep. The brand is seen by many as being the crown jewel of FCA due to its reputation of being a go-anywhere SUV. Analysts believe the brand on its own is worth more than FCA as a whole. Morgan Stanley analyst Adam Jonas estimated last week that Jeep has a value of $33.5 billion vs. the $32 billion for FCA. If Great Wall was to purchase Jeep, what would they do with it? "Our strategic goal is to become the world's largest SUV maker. Acquiring Jeep, a global SUV brand, would enable us to achieve our goal sooner and better" than Great Wall could do with its own brands, said Hui. Great Wall has an r&d center in Los Angeles and has just set up another one in Detroit this year to learn more about the U.S. market. The big question is will FCA be willing to part with Jeep or require Great Wall to buy most of FCA. Source: Automotive News (Subscription Required) -
Ever since the rumor of a Chinese automaker possibly buying Fiat Chrysler Automobiles came to light last week, the various Chinese brands have been saying 'not us'. It seemed no one was interested in taking FCA to the dance, or wanted to admit it out loud. That changed today as Great Wall Motor revealed to Automotive News that it was interested in buying FCA, well part of it. Great Wall President Wang Fengying wrote in an email to Automotive News that the company is intending to buy Jeep and is "connecting with FCA" to possibly begin negotiations. Xu Hui, a spokesman for Great Wall said in a follow-up email that the company "has indirectly expressed interest in Jeep but has not yet made a formal offer or met with FCA's board." A statement from FCA says that it has not been contacted by Great Wall about Jeep or any other business matter. It doesn't come as a big surprise that Great Wall is only interested Jeep. The brand is seen by many as being the crown jewel of FCA due to its reputation of being a go-anywhere SUV. Analysts believe the brand on its own is worth more than FCA as a whole. Morgan Stanley analyst Adam Jonas estimated last week that Jeep has a value of $33.5 billion vs. the $32 billion for FCA. If Great Wall was to purchase Jeep, what would they do with it? "Our strategic goal is to become the world's largest SUV maker. Acquiring Jeep, a global SUV brand, would enable us to achieve our goal sooner and better" than Great Wall could do with its own brands, said Hui. Great Wall has an r&d center in Los Angeles and has just set up another one in Detroit this year to learn more about the U.S. market. The big question is will FCA be willing to part with Jeep or require Great Wall to buy most of FCA. Source: Automotive News (Subscription Required) View full article -
Ever since the rumor of a major Chinese automaker possibly buying Fiat Chrysler Automobiles broke earlier this week, a number of them are coming out and saying it's not us. Geely was the first to come out on Wednesday and we have learned about two others. Yesterday, a spokesperson for Dongfeng told Reuters the company has no plans to buy FCA. Then today, Guangzhou Automobile told Reuters the same thing. "Currently, we don't have plans to acquire Fiat Chrysler," said Wu Yunchong, spokeswoman for Guangzhou Automobile. That now leaves Great Wall and other Chinese automakers that we don't know about. Source: Reuters, 2- 10 comments
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Ever since the rumor of a major Chinese automaker possibly buying Fiat Chrysler Automobiles broke earlier this week, a number of them are coming out and saying it's not us. Geely was the first to come out on Wednesday and we have learned about two others. Yesterday, a spokesperson for Dongfeng told Reuters the company has no plans to buy FCA. Then today, Guangzhou Automobile told Reuters the same thing. "Currently, we don't have plans to acquire Fiat Chrysler," said Wu Yunchong, spokeswoman for Guangzhou Automobile. That now leaves Great Wall and other Chinese automakers that we don't know about. Source: Reuters, 2 View full article
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Chinese automakers see the U.S. as a land opportunity and have been making promises to start selling vehicles in the near future. None so far have made it. Now one Chinese brand is reconsidering their plans. SAIC Motor Corp., China's largest automaker and partner with GM, has put their U.S. ambitions on hold. Michael Yang, executive director of SAIC Motor’s international department said at a briefing that they have uncertainties about the trade policy between China and the U.S. due to the election of Donald Trump. Yang went on to say that the company would implement their U.S. strategy once it has gotten clarity. For the time being, SAIC has moved up plans to start selling vehicles in the European Union. “Eventually we aim to have all, but at the moment we are focusing on” China and then Europe, Yang said. “The reason is the ‘climate change’ after the new presidency.” This contrasts with another Chinese automaker, Guangzhou Automobile Group Co., (GAC) which plans on entering the U.S. by 2019 with their Trumpchi brand. Although there is talk that GAC is considering changing the name of the brand before arriving in the U.S. Source: Automotive News (Subscription Required) View full article
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Chinese automakers see the U.S. as a land opportunity and have been making promises to start selling vehicles in the near future. None so far have made it. Now one Chinese brand is reconsidering their plans. SAIC Motor Corp., China's largest automaker and partner with GM, has put their U.S. ambitions on hold. Michael Yang, executive director of SAIC Motor’s international department said at a briefing that they have uncertainties about the trade policy between China and the U.S. due to the election of Donald Trump. Yang went on to say that the company would implement their U.S. strategy once it has gotten clarity. For the time being, SAIC has moved up plans to start selling vehicles in the European Union. “Eventually we aim to have all, but at the moment we are focusing on” China and then Europe, Yang said. “The reason is the ‘climate change’ after the new presidency.” This contrasts with another Chinese automaker, Guangzhou Automobile Group Co., (GAC) which plans on entering the U.S. by 2019 with their Trumpchi brand. Although there is talk that GAC is considering changing the name of the brand before arriving in the U.S. Source: Automotive News (Subscription Required) -
One day, a Chinese automaker will finally deliver on their promise of selling vehicles in the U.S. But what will bring customers into the showrooms? Yesterday, we reported on Geely positioning itself maker of affordable, high-tech cars with a new plug-in crossover - due out in 2017 in China, followed by Europe and U.S. Automotive News reports that another Chinese automaker who has dreams of coming to the U.S. is going low prices. Guangzhou Automobile Group Motor Company (GAC) is planning to be cheaper than its rivals in the U.S. How cheap? Wu Song, general manager of GAC says the 'magic number' is 30 percent cheaper. "We are confident. It could be popular in the market. Considering the low price, it should be competitive," said Song. If Song gets his way, GAC could put this price cut theory to the test sometime in 2017 when the company plans on launching the GS4 crossover - a compact crossover going up against the likes of the Toyota RAV4 and Honda CR-V. That is the plan at the moment. Currently, GAC is seeking dealers, importers, and distributors in the U.S. Song tells Automotive News that he is "90 percent confident" GAC will bring the GS4 to the U.S. But analysts don't fully buy into the price cut. James Chao, managing director for Asia Pacific at IHS Automotive says its difficult for any unknown brand to make it in the U.S. Chao also said 30 percent discount that Song wants to do for U.S. is less than 40 percent markdowns Chinese automakers do to compete with global brands. Source: Automotive News (Subscription Required) -
One day, a Chinese automaker will finally deliver on their promise of selling vehicles in the U.S. But what will bring customers into the showrooms? Yesterday, we reported on Geely positioning itself maker of affordable, high-tech cars with a new plug-in crossover - due out in 2017 in China, followed by Europe and U.S. Automotive News reports that another Chinese automaker who has dreams of coming to the U.S. is going low prices. Guangzhou Automobile Group Motor Company (GAC) is planning to be cheaper than its rivals in the U.S. How cheap? Wu Song, general manager of GAC says the 'magic number' is 30 percent cheaper. "We are confident. It could be popular in the market. Considering the low price, it should be competitive," said Song. If Song gets his way, GAC could put this price cut theory to the test sometime in 2017 when the company plans on launching the GS4 crossover - a compact crossover going up against the likes of the Toyota RAV4 and Honda CR-V. That is the plan at the moment. Currently, GAC is seeking dealers, importers, and distributors in the U.S. Song tells Automotive News that he is "90 percent confident" GAC will bring the GS4 to the U.S. But analysts don't fully buy into the price cut. James Chao, managing director for Asia Pacific at IHS Automotive says its difficult for any unknown brand to make it in the U.S. Chao also said 30 percent discount that Song wants to do for U.S. is less than 40 percent markdowns Chinese automakers do to compete with global brands. Source: Automotive News (Subscription Required) View full article
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Volvo's owner, Geely is planning to enter Europe and U.S. in the coming years. Reuters reports that Geely will building a new crossover based on the Compact Modular Architecture - a platform that Geely and Volvo have been working together. Along with new engine technology, this car will launch in China in 2017. The crossover will then head into several Europe markets a year later, followed by the U.S. in due time. "With the CMA car, Li wants to tell the world we're ready for the big time. We're ready to break into Europe and the U.S.," a source told Reuters. The new crossover was designed with the U.S. market in mind. But before Geely plans on sending it to the U.S., it will sell the crossover in Spain, Portugal, Italy, Britain, and Eastern Europe. "Those markets, Britain in particular, are open to foreign cars, while northern Europe, France and Germany are not," a source said. While the Chinese market will get a gasoline variant, Europe and the U.S. will get a alternative-fuel model, possibly a plug-in hybrid. The goal with this is to make Geely seen as a maker of affordable, high-tech cars. "It's an effort to burnish our brand before we bring out more mainstream gasoline-fueled cars to Europe and eventually to the U.S.," Source: Reuters View full article
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Rumorpile: Geely Plans A Push Into Europe and U.S.
William Maley posted an article in Automotive Industry
Volvo's owner, Geely is planning to enter Europe and U.S. in the coming years. Reuters reports that Geely will building a new crossover based on the Compact Modular Architecture - a platform that Geely and Volvo have been working together. Along with new engine technology, this car will launch in China in 2017. The crossover will then head into several Europe markets a year later, followed by the U.S. in due time. "With the CMA car, Li wants to tell the world we're ready for the big time. We're ready to break into Europe and the U.S.," a source told Reuters. The new crossover was designed with the U.S. market in mind. But before Geely plans on sending it to the U.S., it will sell the crossover in Spain, Portugal, Italy, Britain, and Eastern Europe. "Those markets, Britain in particular, are open to foreign cars, while northern Europe, France and Germany are not," a source said. While the Chinese market will get a gasoline variant, Europe and the U.S. will get a alternative-fuel model, possibly a plug-in hybrid. The goal with this is to make Geely seen as a maker of affordable, high-tech cars. "It's an effort to burnish our brand before we bring out more mainstream gasoline-fueled cars to Europe and eventually to the U.S.," Source: Reuters
