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Old 01-28-2008, 11:05 AM   #1
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Post Guangzhou Automobile news

Guangzhou Auto posts record profits $1.38 B last year.

January 28, 2008 – Guangzhou Automobile Industry Group posted a record net profit of RMB 10 billion ($1.38 billion) last year, the company announced last week.

The company’s sales revenue last year reached a record 100 billion yuan ($13.79 billion) last year. Analysts said the robust sales increase of Guangzhou Honda and Guangzhou Toyota are driving forces behind Guangzhou Auto’s phenomenal profit growth.

In comparison with FAW Group, Dongfeng Group and Shanghai Auto, Guangzhou Auto is still lagged much behind in automobile output, but not in net profits. Last year, both FAW Group and Shanghai Auto net profits reached 12.3 billion yuan ($1.70 billion).

Guangzhou Auto currently has two Japanese joint ventures: Guangzhou Honda and Guangzhou Toyota.

Guangzhou Honda produces Accord, Fit, City and Odyssey vehicles. Last year, Guangzhou Honda sold 295,299 Honda vehicles. Guangzhou Toyota sold Camry (Yaris will be produced this year). Last year, Guangzhou Toyota sold 170,294 Camry vehicles.
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Old 11-26-2008, 08:14 AM   #2
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Default Johnson Controls forms JV with Guangzhou Auto

Johnson Controls forms JV with Guangzhou Auto

November 26, 2008

Shanghai, November 26 ( Global automotive interiors supplier Johnson Controls signed an agreement on Monday with China Guangzhou Automobile Group Component Co., Ltd. (GACC), a subsidiary of Guangzhou Automobile Industry Group Co., Ltd. (GAIG), to build a joint venture plant in Guangzhou, according to the company's press release.

The new venture, called Guangzhou GACC-Johnson Controls Automotive Interior Systems Co, will focus on the design, development, engineering and manufacture of automotive interior products and systems such as instrument panels and floor consoles.

Construction is scheduled to be completed by 2009 and it is expected to offer efficient just-in-time service to customers in southern China when production started in early 2010.

Established on August 28, 2000, GACC is the wholly-owned company of GAIG with registered capital of 185.68 million yuan. It has 16 enterprises and the total assets under its jurisdiction are worth 7 billion yuan. It currently employs 8,300 personnel and provides products and related services to Guangzhou Honda, Dongfeng Nissan, Guangzhou Toyota and other car manufacturers.
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Old 07-04-2012, 08:16 AM   #3
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Fiat SpA and Guangzhou Automobile Group Co. Ltd. (2238.HK) will begin selling the first car made under their joint venture in China in the second half of 2012 at a plant with a capacity to make up to 170,000 units a year, the head of the Italian automaker said Wednesday.

“That will be the first phase,” Fiat Chief Executive Sergio Marchionne said at the automaker’s annual shareholders assembly in its hometown in northwestern Italy, referring to the number of vehicles to be produced.

“We’ll see how well we get to this [number],” he said.

Based in Guangzhou, China, the plant can increase its capacity to more than 300,000 vehicles a year with a minimum of investment, he said.

The car, to be christened the Viaggio, is a sedan for the C, or midsize, segment of the Chinese market, which is fast becoming the biggest in the world. Viaggio is Italian for voyage or journey.

Fiat and Guangzhou will publish photos of the car near the end of next week, ahead of the motor show in Beijing where they will unveil the car, according to a person close to the matter.

The car will be built on the Compact Wide platform, the same one used by Chrysler Group LLC’s new Dodge Dart. It is the latest example of Fiat’s strategy to have more models share the same platform to cut costs and quicken the time it takes to develop new models. Its alliance with the U.S. automaker, in which it has a controlling stake, is also working toward that end.

Fiat and Guangzhou won’t only sell the car in China but also export it to some countries in Europe, the person told Dow Jones Newswires.

In terms of sales, Fiat and Chrysler are far behind other car manufacturers in China, selling little more than 20,000 units a year. Fiat imports its 500 city car, Bravo hatchback and Freemont sports-utility vehicle, while Chrysler brings mostly Jeeps to the country.

Fiat has been expanding its dealer network in the country in anticipation of the new car to 100 from 40.

The goal of Fiat and Chrysler is to reach combined annual sales of 300,000 vehicles by 2014, representing 2% of the Chinese market.

Marchionne said the next step for Fiat in China is to develop the Jeep brand.

“We need to move to China to see how we can get that brand some relative degree of traction in that area,” he said.

Asia is a region where Fiat is eager to expand because of its robust economy. The company also has a joint venture with Tata Motors Ltd. (TTM) in India, and Marchionne told shareholders at the assembly he was interested in finding yet another partner.
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Old 07-04-2012, 08:17 AM   #4
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Fiat’s all new Viaggio sedan saw production commence on Thursday 28th June, the new sedan is so far a China only model but will be eventually taken to other markets as well. Fiat Chrysler CEO, Sergio Marchionne as well as other senior Fiat Chrysler management, and also senior government ministers were on hand to see the launch of the Viaggio, and also Guangzhou Fiat’s new China facility. Fiat’s joint venture with Nanjing Fiat was terminated in 2007 after both parties decided to end the agreement, Fiat blamed Nanjing Auto for putting its best staff in the then MG project, and Nanjing Auto claimed that Fiat were not interesting in introducing any new models into the Chinese market.

Sergio Marchionne was keen to stress that the new Guangzhou-Fiat production facility is one of Fiat’s most modern production facilities, the new factory comes just two years after Fiat signed a new joint venture with Guangzhou Auto Group, the sixth largest manufacturer in China. When Marchionne took to the stage at the beginning of the ceremony he lavished praise on government ministers from Hunan and Guangdong who assisted Fiat with turning the greenfield site into a world class manufacturing facility capable of creating 140,000 cars per year in phase 1 and 240,000 in phase 2.
The noticeably dressed down VIP’s took to the stage to hit the start of production button, a silver curtain slung back and out popped a female singer bellowing the ‘Song of the Viaggio‘, Marchionne shot a confused look to his Fiat Chrysler APAC colleagues, then a second curtain opened and the first Viaggio finally rolled off the production lines, applause was finally forthcoming.

During an interview session with Marchionne it was revealed that the Fiat China plant will be filling Chinese demand for Fiat’s but will also see its produce exported to other markets as part of Fiat’s plan to expand into other territories. On the issue of Alfa Romeo coming into China to rival the German luxury brands, Sergio did say that the brand would be here by the end of the year but did not confirm the brand would be produced in China just yet.

The Viaggio is the sister car to the Dodge Dart, although it has some subtle changes for the China market. Marchionne believes that the original Nanjing-Fiat joint venture failed due to Fiat not placing enough importance on understanding the Chinese market and forcing ‘solutions’ onto the Chinese market that were just not acceptable, Fiat now believe that the Chinese consumer demands technology and comfort which is why they have chosen to go with Fiat’s own 1.4 T-Jet engine at launch and refined rear suspension that does away with the independent rear suspension seen in the Dart and replaced with a torsion beam instead.

Pricing for the Viaggio has not yet been announced but Chinese automotive media are estimating that it will start at around 110,000RMB for the basic version and rise to around 160,000RMB for the top model. The Viaggio, as a compact car, is entering a fierce market, rivals from VW, Ford, and Chevrolet already have a strangle hold on the segment but the Viaggio’s unique styling will no doubt stand out amongst the slightly bland competition. Sales will begin later this year, initial sales goals of not yet been announced but Fiat will have to overcome the stigma of a failed joint venture which left them with a reduced sales network (around 100 dealers to date) and also tarnished name although with continued introduction of new models and ‘China focused’ vehicles, the company is in a strong position to turn its China fortunes around fast.
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