Cars
FACTBOX - China overtakes US as world's No 1 auto market
(Agencies)
Updated: 2010-04-22 13:32
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2010 outlook
Nissan
Nissan Motor aims to sell 600,000 cars in China in 2010, up from expected sales of 517,000 in 2009. Its joint venture in China aims to sell 1 million cars, trucks and buses this year, up 10.5 percent from 2009 and well ahead of a plan to reach that milestone by 2012.
Toyota
Toyota Motor's China sales growth is expected to slow down to about 14 percent this year from 17 percent in 2009, with a target of selling 800,000 vehicles in China. It sold 700,000 units in 2009.
Ford
Ford Motor Co expects to outperform the industry-wide sales growth in 2010, which is seen at 8 percent. The US automaker sold 440,619 units in China last year, up 44 percent from the previous year.
BYD
BYD aims to sell 800,000 vehicles next year, up from a previous target of 700,000 units. It sold 400,000 vehicles in 2009.
Overseas M&A
Geely-Volvo
Geely Automobile Holdings Ltd, China's largest private automaker, signed a definitive agreement in March to buy Ford's Volvo car unit for $1.8 billion. Both Geely and Ford had said they hoped to complete the deal in the third quarter.
BAIC bought the intellectual property for several Saab models from General Motors for $200 million. The the acquisition is believed to cut short BAIC's vehicle development plan by four to five years.
Tengzhong-Hummer
Sichuan Tengzhong Heavy Industrial Machinery Co, a little-known Chinese machinery maker, surprised investors and industry executives alike by unveiling a tentative plan in June to take over Hummer from General Motors.
The deal, however, ultimately fell apart earlier this year for a lack of regulatory approval.
