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Category: Automotive

Retail News Asia is committed to providing both local and global retailers with the latest Auto and Car news throughout the Asian market. This on a daily base.

  • Auto firm links sales of used cars and new vehicles

    Auto firm links sales of used cars and new vehicles

    An auto services firm is riding the internet and technologies such as big data to adopt a new business model that integrates used-car and new-car sales businesses, including features such as financing and after-sales services.

    On Oct 31, Guazi.com, China’s largest used-car dealer, announced its transformation into a car trading company, connecting its used-car business with Maodou.com, its newly developed brand of new-car retail.

    The integrated services span the entire life cycle of a car. Guazi’s user database and technical services would be used by Maodou.com as well.

    Called “CARS”, the new company offers its customers a “one-stop” shop for buying, selling and renting new cars and used cars, said Yang Haoyong, CEO of Maodou.com.

    “On Maodou.com, consumers can choose to rent a new car for up to four years, and then decide whether to buy the car or rent another new car,” he said.

    The used car will later be put up for sale on Guazi. The new car platform is especially welcome for young consumers, as price is a key factor for them, Yang said.

    “The down-payment for a new car is now as low as zero to 10 percent. Four years later, if the user wants, he can return the car and get another brand new one,” he said.

    “The market is now large. But consumers lack confidence in the used-car market in China. Maodou may be a great news for those who prefer a new car but haven’t saved enough money yet.

    “Additionally, the new brand satisfies the needs of those people, especially the millennials, who are constantly pursuing new things.”

    CARS has received funding from global investors such as Capital Today, Bank of China Group Investment Ltd, and Hong Kong-based DST Global.

    It has also teamed up with more than 10 financial institutions such as Bank of China, China Merchants Bank, Industrial and Commercial Bank of China, and Shanghai Pudong Development Bank, to build common digital platforms to push car sales and rentals.

    Zhao Xiang, an auto analyst at Beijing-based research firm Analysys, said: “The new-car service is a wise choice. Those selling used cars on Guazi usually tend to buy a new car, so Maodou would be helpful for them.

    “From this kind of ecosystem, auto companies can expand their business and broaden channels to monetize traffic (to their websites, apps and offline stores).”

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  • Sisma Auto opens Volvo showroom in Bukit Bintang

    Sisma Auto opens Volvo showroom in Bukit Bintang

    The Volvo brand just got a new shot-in-the-arm with Sisma Auto, Volvo Car Malaysia’s newly appointed authorised dealer, officially opening its city centre showroom at Menara Worldwide on Jalan Bukit Bintang.

    Located in the heart of Kuala Lumpur’s premier residential and commercial district, the showroom is set to offer a touch of Swedish luxury to the Golden Triangle by featuring a luxurious retail environment influenced by Scandinavian design, known also as Volvo Retail Experience (VRE).

    “VRE is designed to reflect our Scandinavian-inspired values of calm with cleans lines that exude a cool and refreshing visual exterior appeal whilst the interior offers customers a warm and inviting feeling,” said Lennart Stegland, managing director of Volvo Car Malaysia.

    Sisma Auto managing director Syed Khalil Syed Ibrahim added that the new showroom would help enhance the visibility and awareness of Volvo’s latest range of highly acclaimed luxury cars.

    “We are very proud to be associated with Volvo, a brand that is clearly on the ascent after releasing an amazing range of new models from the XC90 to the new S90 T8 Twin Engine. With this new showroom, we hope to bring the Volvo experience closer to those who live or work in the city,” he said.

    Volvo owners who reside or work in the vicinity could also enjoy a premium ownership experience, a signature of Sisma Auto. The new showroom will feature Sisma Auto’s Concierge Service, which offers home or office vehicle pick-up and drop-off for customers.

    In conjunction with the opening of this new showroom, Sisma Auto is offering customers purchasing any new Volvo model from them, a chance to win an all-expense paid trip to Sweden.

    The new Sisma Auto Volvo Bukit Bintang showroom is located on Ground Floor, Menara Worldwide, 198 Jalan Bukit Bintang, 55100 Kuala Lumpur. Its opening hours are from 9am till 7pm, Monday to Friday and from 10am till 5pm on Saturday and Sunday.

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  • German automakers set for record output expect further growth in 2018

    German automakers set for record output expect further growth in 2018

    German automakers, on course for record production this year, expect further output growth in 2018 powered by strong demand in Asia, the VDA carmakers’ lobby said.

    Producers including Volkswagen, Daimler and BMW may increase output “significantly” this year from 2016 levels to between 5.6-5.7 million units in Germany and about 10.8 million in the rest of the world, VDA President Matthias Wissmann said.

    “The automotive sector is and will remain a growth market,” Wissmann told an industry conference on Tuesday, citing momentum in China and India.

    “Current projections indicate that 2018 will also be a stable year,” he said, without being more specific.

    Separately, Wissmann said he expects demand in Germany for electric cars to show “a further significant gain” over the next three years as German carmakers plan to more than triple their offerings of purely battery-powered vehicles and plug-in hybrids to nearly 100 models from about 30 at present.

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  • Fuel prices drop after five weeks of hikes

    Fuel prices drop after five weeks of hikes

    RON95 and RON97 petrol will be both be 8 sen cheaper at midnight, ending five consecutive weekly price increases.

    The Domestic Trade, Co-operatives and Consumerism Ministry announced today that RON95 will retail for RM2.30/L and RON97 for RM2.58/L, while diesel will drop by 2 sen to RM2.23/L.

    All prices are effective after midnight and valid until next Thursday.

    Fuel prices previously rose for five straight weeks as global oil prices spiked due to the unrest in the Middle East region.

    Putrajaya has pledged to intervene in the event RON95 and diesel exceed the RM2.50/L mark for three consecutive months.

     

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  • Toyota downshifts Lexus view

    Toyota downshifts Lexus view

    Japanese car maker Toyota Motor Thailand is downbeat about sales prospects of its luxury brand Lexus this year, saying the price of imported cars make them less able to compete with locally made luxury brands.

    Toyota expects to sell 650 Lexus cars in 2017, a 24% drop year-on-year, said executive vice-president Vudhigorn Suriyachantananont.

    “We admit the Lexus brand is at a disadvantage in the luxury car market because they are imported from Japan, so their retail prices are much higher than local luxury brands,” he said.

    Cars imported from Japan are subjected to an import duty of 60% under the Japan–Thailand Economic Partnership Agreement, compared to the normal duty of 80%.

    Mr Vudhigorn said Lexus also has launched fewer models in the Thai market. It introduced the Lexus RX sport utility vehicle about two years ago, while the new Lexus LS sedan was launched locally yesterday, priced from 11.5-15.8 million baht, available with either an internal combustion engine or hybrid-electric platform.

    “For the new LS, we aim to sell about 30-40 cars annually,” he said.

    Lexus recorded its Thai sales record in 2015, selling 834 cars, up sharply by 46% from the previous year. But sales dropped to 770 cars in 2016.

    Lexus has sold 8,455 cars total in Thailand as of September this year.

    Mr Vudhigorn forecast the luxury market to grow by 20% to 26,000-27,000 cars sold in 2017 after sales from January to September tallied 20,056 cars.

    Two German brands — Mercedes-Benz and BMW — now control over 90% of the luxury car segment because both companies have their local assembly plants in Thailand, he said.

    Third-ranked is Sweden’s Volvo, while Lexus is in the fourth spot in the Thai luxury market.

    President Michinobu Sugata said Toyota does not have plans to localise Lexus’s assembly plant at Toyota’s passenger car factory in Chachoengsao, even though it would make retail prices more competitive in the Thai market.

    Lexus has three showrooms and service centres in Bangkok and 10 service centres in upcountry provinces.

    Toyota expects to sell 265,000 units this year, up 8% in line with the local car market, which is projected to grow by 8% to 830,000 units.

    Toyota plans to export 291,000 units from its Thailand operation, down by 9% from last year mainly because of a drop in sales from the Middle East and Latin America.

    On Friday, Toyota is scheduled to announce its plan to ship the Hilux Revo pickup to Japan for the first time.

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  • Honda recalling 900,000 minivans because seats may tip forward

    Honda recalling 900,000 minivans because seats may tip forward

    Honda Motor Co said on Saturday that it was recalling about 900,000 minivans because second-row seats may tip forward if not properly latched after being adjusted.

    The Japanese automaker said the recall covered 2011-2017 Honda Odyssey minivans, all but 2,000 of which are in North America, and that it had 46 reports of minor injuries related to the issue. Honda said it was working on a recall fix to help ensure proper latching and, in the interim, had posted a detailed instruction sheet on how to ensure seats are properly latched.

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  • ‘Robo-taxis’ hold promise, and perils, for automakers

    ‘Robo-taxis’ hold promise, and perils, for automakers

    Are ‘Robo-taxis’ the future of public traffic?

    It’s November 22, 2028 and Sarah, a young mother, gives her two children a kiss goodbye before buckling them into the driverless car that will bring them to school.

    Sarah doesn’t have a car and has no plans to buy one. Living in a suburb, she has run the numbers and the result is clear: It’s much cheaper to order a car only when she needs one.

    The “robo-taxi” has also made her life easier, but only after such vehicles upended the business models which carmakers had relied on for decades.

    The revolution is already underway, with every major brand racing to create autonomous electric cars and trucks that will always be just a few clicks of a smartphone away.

    Fully electric cars are expected to make up 12 percent of the global market in 2025, before jumping to 34 percent in 2030 and 90 percent by 2050, analysts at Bank of America Merrill Lynch forecast last month.

    Adapt or perish

    The motivations are clear: Smog is becoming a serious menace in cities around the world, with China in particular demanding cleaner vehicles for its rapidly growing market.

    Traffic jams are also eating up hours of commuters’ time, meaning car ownership is already no longer a given for many city dwellers.

    And carmakers have nimble new rivals: Apple, Google and Tesla — which last week unveiled an all-electric semi truck — see a chance to dominate a market that will soon depend as much on software as on engineering.

    Industry chiefs aren’t waiting: France’s PSA is betting on car-sharing and other “services” with its Free2Move division, which it hopes will let it get back into the huge US market.

    In Germany, Daimler is working with Bosch to develop self-driving electric cars that could be on the road by the early 2020s, and has already launched its own car-sharing service, Car2Go, in some two dozen cities worldwide.

    Its German rival Volkswagen has created Moia, a “social movement” unit exploring e-shuttles, ride pooling and car hailing.

    “Even if in the future not everyone is going to own a car, with Moia we’re trying to make sure everyone will be a client of ours one way or another,” VW’s chief Matthias Mueller said.

    Robo-taxis could generate 40 percent of auto industry profits by 2030, according to German consulting firm Roland Berger, which expects demand for private vehicles to drop 30 percent in the period.

    And industry experts warn that the automakers which fail to adapt to the shift risk might not survive.

    Lagging behind Asia

    But that means investing billions in batteries, charging infrastructure and autonomous driving technologies with little prospect of seeing a payoff anytime soon.

    VW announced Friday a plan to spend 34 billion euros ($40 billion) over the next five years on hybrid and electric cars and services in a bid to “reinvent” the automobile.

    But for now, so-called “zero emission” vehicles remain a tough sell: Renault’s Zoe range of electric cars, which is has offered since 2012, made up just 1 percent of its sales last year.

    Its chief, Carlos Ghosn, is hoping that figure will reach 5 percent by 2022.

    The contest will be costly for all automakers, with PriceWaterhouseCoopers estimating that production costs for the next generation of electric cars will be 20 percent higher than traditional models, while warning of “serious problems” for returns on investment.

    “The speed” of the shift toward an electric future “will have to be taken on by all automotive companies,” PSA’s chief executive Carlos Tavares said at the Frankfurt auto show in September.

    Yet Western carmakers and government officials already fear they are lagging behind Asian rivals, with China in particular making headway on electric motors and batteries.

    That led the EU Commission to urge the creation of an “Airbus for batteries”, with European companies joining forces for large-scale battery production.

    “This technology is too important to import it from overseas,” the commission’s vice president charge of energy, Maros Sefcovic, warned.

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  • GM’s Cadillac expects China sales to jump 60 percent in 2017

    GM’s Cadillac expects China sales to jump 60 percent in 2017

    General Motors’ Cadillac luxury brand expects its China sales to surge 60 percent in 2017, faster than it had projected at the start of the year, on strong demand from younger buyers, the brand’s country chief said.

    The GM premium brand, which saw a sharp spike in sales after it opened its first dedicated factory in the country last year, had said in January that China sales would continue growing at a double-digit rate but at a slower pace than the roughly 50-percent growth it posted in 2016.

    Cadillac, relatively late to introduce local production in the world’s biggest auto market, is among a second wave of luxury car brands in China that seek to take market share from established brands such as BMW (BMWG.DE), Daimler’s (DAIGn.DE) Mercedes-Benz, and Volkswagen’s (VOWG_p.DE) Audi.

    In order to sustain the momentum in Cadillac sales in China, the brand plans to double the number of retail stores over the next five years to more than 300, from the current 180.

    “A lot of younger people in China are looking for something different to stand out of the crowd. We have a very young target audience. That is a significant difference to the other countries in the world,” Cadillac’s China chief, Andreas Schaaf, told Reuters in an interview on Friday.

    The average age of Cadillac buyers in China is 33 years, compared to 50 years in Europe and the United States combined, Schaaf said.

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  • Volkswagen to invest $27 billion in core brand until 2022

    Volkswagen to invest $27 billion in core brand until 2022

    Volkswagen will invest 22.8 billion euros ($26.9 billion) in its main car brand over the next five years, it said on Saturday, a day after it announced a spending program aimed at bolstering its position as a maker of electric cars.

    Most of that sum, around 14 billion euros, will be spent in Germany, Volkswagen said, adding that one of the key measures included a 1 billion euro injection to transform the carmaker’s Zwickau plant into a pure e-mobility facility.

    “The investment package which has now been adopted will give a decisive boost to the largest product and technology offensive in the history of the brand,” Herbert Diess, Chief Executive of the Volkswagen brand and a VW management board member, said.

    Analysts see reviving the VW brand, which has long suffered from high staff and development costs, as crucial to the group’s ability to recover from a diesel emissions scandal that has gripped the carmaker. [nL8N1N51ST]

    The investments unveiled on Saturday are part of Volkswagen’s 72 billion euro spending plan for the 2018-2022 period that was announced on Friday.

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  • Daimler to invest $755 million in China for electric car, battery production

    Daimler to invest $755 million in China for electric car, battery production

    Germany’s Daimler AG plans to invest 5 billion yuan ($755 million) in China for factory capacity to manufacture electric cars and the batteries that power them, part of an effort to help its Mercedes-Benz and Smart brands comply with the country’s green car production and sales quotas.

    Hubertus Troska, head of Daimler’s greater China operations, told reporters that the investment was part of Daimler’s previously announced 10 billion euros ($11.8 billion) global green car initiative.

    China has set strict quotas for electric and plug-in hybrid cars that come into effect from 2019. It has an ambitious target of 2 million NEV sales by 2020 and has signaled longer-term it will phase out the sale of conventional petrol-engine cars.

    This seismic shift towards NEVs has prompted a flurry of electric car deals and new launches as manufacturers worldwide race for a share of the world’s largest auto market.

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  • Internal combustion engine to be dead by 2050, says Toyota R&D boss

    Internal combustion engine to be dead by 2050, says Toyota R&D boss

    When it comes to the future of the internal combustion engine, Toyota has long been on the cutting edge. Consider how the company went out early and successfully with the Prius hybrid line of vehicles and how it has come to define the category with the largest market share by far of any hybrid model.

    Now, Seigo Kuzumaki, Toyota’s head of advanced R&D and engineering, is forecasting that the internal combustion engine will be dead as the principal form of vehicle power by 2050 and will power only about 10% of new vehicles as part of a hybrid system.

    The impact on the environment will be profound. Kuzumaki says the reduction in emissions, compared with cars in 2010, will be 90%. Toyota’s technology plan coincides with growing policy making by governments. Last July, for example, United Kingdom Environmental Secretary Michael Gove sad that the sale of new 100% internal-combustion vehicles will be banned in his country by 2040.

    That position differs dramatically from the espoused position of the current U.S. administration, which, in keeping with the Republican political party, continues to deny the impact of human-generated carbon emissions on climate change. The chief reason for that recalcitrance is the fear of carbon taxes on businesses, and the lack of cooperation on extensive environmental standards by other big industrial countries like China and India.

    In the current tax legislation being drafted in the U.S. House of Representatives, there is a call, for example, to end tax incentives for EVs. “[This bill] would fully end the tax incentives for electric vehicles at the end of this year. That’s a shortsighted policy that will increase pollution and undermine an important and growing industry,” according to the Union of Concerned Scientists (UCS).

     But important states in the U.S. like California and New York are proceeding on their own with carbon reducing policies and EV tax credits, without the cooperation or consent of the federal government.

    Toyota is off to a huge start in the production of electric vehicles, producing some 43% of all electric vehicles globally. It has sold more than 11 million Prius brand hybrid and EV vehicles worldwide thus far.

    By 2020, Toyota plans to introduce a new family of EVs, which are expected to have a range of around 300 miles—the gold standard for consumer acceptance of EV vehicles.

    Toyota is far from the only company making heavy investments in EVs. GM, Ford, Nissan, Volkswagen, Honda and luxury makes like Mercedes, BMW and Audi are all making heavy investments. What remains to be seen is how changing governments will set new standards, and at what pace. In the U.S., the Trump administration, for example, is trying to roll back standards set by the Obama administration that proceeded it.

    And consumer tastes and preferences are an issue. Toyota and the other companies can bring out all the EVs they want. But it will take consistency of government policy to allow industry to make the appropriate investments required to meet the level of sales being predicted in the next few decades.

    “The progress of our growing electric vehicle market [can’t be allowed to] stall, because America will fall behind other countries that recognize how critical this technology is to the future of transportation,” says Don Anair, deputy director of the Clean Vehicles program at the UCS.

     

     

  • Toyota facelifts Hilux Revo pickup for 2018

    Toyota facelifts Hilux Revo pickup for 2018

    Brand’s bread-winning workhorse gets a more aggressive-looking face and a new style-led model called Rocco to rival the Ford Ranger Wildtrak and Isuzu D-Max X-Series.

    Toyota Motor Thailand has released the first pictures and details of the facelifted Hilux Revo ahead of its public debut at the year-ending 2017 Motor Expo.

    Featuring in the single- and double-cab models is a new face with a prominent grille to bring the Hilux Revo in line with the US-only Tacoma pickup. The meek looks of the pre-facelift Hilux Revo is alleged to have received a tepid reception from the pickup market.

    And for the first time, Toyota has introduced a new style-led range-topper called Rocco to rival the Ford Ranger Wildtrak and Isuzu D-Max X-Series.

    Available for both single- and double-cab variants, the Rocco features an even sportier grille with plenty of black accents around the vehicle. Other key exterior features are 18-inch alloys shod with 265/60 R18 all-terrain tyres and a sports bar in the cargo bed. The interior also gets the black colour treatment along with leather appointments here and there.

    The 150hp 2.4-litre and 177hp 2.8-litre diesel-turbo engines, plus 166hp 2.7-litre petrol unit, remain unchanged. The same goes for the six-speed manual and automatic transmission.

    As for the Rocco, only the 2.8-litre diesel is available either with manual or automatic and 2WD or 4WD. Depending on body style and transmission, the Rocco is priced between 1.129-1.199 million baht. While the regular single-cab sees prices starting from 572,000 baht, the double-cab kicks out at 672,000 baht.

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  • Mazda launches all-new CX-5 in Thailand

    Mazda launches all-new CX-5 in Thailand

    Mazda Sales Thailand has launched the all-new CX-5 with prices mostly competing with those of the Honda CR-V, one of the most popular SUVs in the Thai market.

    The second-generation CX-5 comes with a completely redesigned exterior and interior, although it still uses the same platform, engines and transmission from its predecessor.

    The CX-5 comes with the same 175hp 2.2-litre diesel-turbo and 165hp 2.0-litre petrol motors, both equipped with a carried-over six-speed automatic driving either the front wheels or all four.

    The entry-level model is the petrol-powered C trim priced at 1.29 million baht, some 100k cheaper than the cheapest CR-V powered by 175hp 2.4-litre petrol engine.

    The higher S spec of the CX-5 goes for 1.33 million baht which, like the C, is 70k more expensive than before. A new grade is the 1.53 million baht SP that comes with the brand’s latest driver-assist technologies. All petrol models are purely front-wheel drive.

    As usual, the diesel-powered is available in just two versions: XD asking for 1.56 million baht and XDL 1.77 million baht, the latter getting those driver-assist tech and four-wheel drive. They are 30k and 80k dearer accordingly than the previous models.

    The CR-V, with 160hp 1.6-litre diesel-turbo, is priced at 1.549 million baht in basic E trim and 1.699 million baht in EL guise.

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  • Hyundai and Michelin join to develop nextgen tyres for EVs

    Hyundai and Michelin join to develop nextgen tyres for EVs

    Hyundai Motor has signed a technical partnership with Michelin to equip next-generation tyres for electric and luxury vehicles. The co-operative deal links the research and development work of the two companies and will enable Hyundai Motor to strengthen its capabilities in tyre performance technology.

    Within the partnership, Hyundai Motor and Michelin will work together to develop a new all-season tyre for electric vehicles. The use of Michelin’s next-generation tyre material and structural technology will help Hyundai Motor optimise overall vehicle efficiency and performance.

    Michelin will also collaborate in the development of a bespoke tyre for a successor model to the Genesis G80 luxury sedan. Co-operative testing and analysis will help determine tyre vibration characteristics at high speeds, both in a laboratory setting and using evaluation conditions set to match the Nürburgring circuit.

    The two companies are striving to achieve the best levels of ride and handling, while minimising noise, vibration and harshness (NVH). The resulting improvements in tyre performance and vehicle dynamics will also contribute to enhanced consumer satisfaction and driving pleasure.

    Woong-chul Yang, vice chairman of Hyundai Motor, said: “I am pleased to announce this new collaborative relationship with Michelin, which will allow Hyundai Motor to accelerate the development and deployment of new tyre technologies. With this enriched knowledge, the next generation of Hyundai Motor electric cars will offer improved performance and efficiency, bringing a direct benefit to the consumer. Working with Michelin will also strengthen Hyundai Motor’s tyre technology on a broader scale, as we also focus on developing luxury Genesis cars and high-performance vehicles.”

    Hyundai Motor representatives visited Michelin’s Research and Development Centre in Clermont-Ferrand, France, to sign the agreement.

    “This cooperation between our two groups is a major milestone for Michelin, and we are proud to have been chosen by Hyundai Motor to put together the best of our leadership and expertise in order to improve their future electric and luxury vehicles.” added Vincent Rousset-Rouviere, president of Michelin Original Equipment Division. “Michelin has been investing constantly in new technologies and innovations to enhance the performance of our tires, so that mobility becomes safer, more sustainable and more enjoyable for all consumers. This new partnership with Hyundai Motor will allow us to open a broad range of new opportunities.”

    Earlier this year, Michelin was awarded top honours in four segments of the 2017 JD Power Original Equipment Tyre Customer Satisfaction Study, excelling in the Luxury, Passenger Car, Truck / Utility, and Performance Sports categories.

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  • Hyundai opens Beijing brand experience space

    Hyundai opens Beijing brand experience space

    Hyundai Motor Group, Korea’s largest automaker, opened its sixth brand experience space in Beijing to reach more Chinese consumers.

    Hyundai Motorstudio Beijing is located in the city’s 798 Art District, known for its galleries and cafes. The center will be a cultural space and not feature any cars. The Motorstudio is the second overseas location of its kind after one in Moscow.

    Chung Eui-sun, the company’s vice chairman, attended the opening ceremony in Beijing on Nov 1, indicating just how vital the Chinese market is to the automaker. Hyundai Motor has been struggling in the country and hopes the center will boost its fortunes in the world’s largest auto market.

    “Hyundai Motorstudio Beijing represents the direction of Hyundai Motor’s future path, which centers on sustainability and creative energy that can solve social problems,” Chung said. “It feels more meaningful that such venue could be established in this experimental and innovative neighborhood of 798 Art District.”

    Hyundai Motorstudio Beijing includes a book lounge and cafe on the first floor and gallery on the second floor. A vivarium occupies one side of the building’s exterior, and other art installations are scattered across the studio space.

    Along with the space, the automaker is running a program called Hyundai Blue Prize to support emerging artists and select a few to display their work in the Motorstudio.

    The opening comes amid a thaw in relations between Seoul and Beijing. The Korean and Chinese governments agreed to a rapprochement after months of diplomatic cold shoulders over a U.S. missile defense system in Korea that China believes threatens its security.

    Chung said at the ceremony that he expects a “positive effect” from the promise of better relations between the two countries.

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