Cars
SAIC Motor Corporation, the owner of MG Motors, plans to develop several new models for the British brand in order to boost sales outside its home market in China. The Chinese owner of MG Motors has already spent £1 billion ($1.64 billion) to re-launch the MG and Roewe brands (former Rover) and intends to invest another £2.2 billion ($3.6 billion) to achieve annual sales of 700,000 by 2015.
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In addition to a revamped version of the current TF LE500 roadster, NAC, the Chinese owner of MG is planning to introduce three new models in Europe according to company’s managing director, Gary Hagen. “We’re planning a four-car range...
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Cars
MG Preparing an Array of New Models to Conquer Europe
SAIC Motor Corporation, the owner of MG Motors, plans to develop several new models for the British brand in order to boost sales outside its home market in China. The Chinese owner of MG Motors has already spent £1 billion ($1.64 billion) to re-launch the MG and Roewe brands (former Rover) and intends to invest another £2.2 billion ($3.6 billion) to achieve annual sales of 700,000 by 2015.
In 2010, the two brands sold 160,397 cars, most of which were delivered in China, with only 2,000 units exported to other markets. This past April, MG launched its new mid-size MG6 in the UK, the first new car to be assembled at the British firm’s Longbridge plant in 16 years. The company said that when it completes the development of a diesel version, it will offer the car to rest of Europe. "We will not go into mainland Europe without a diesel," UK managing director, William Wong, told Autonews.
Read more »- Vw Will Invest More Money On New Products, Plants And Tech Than Puerto Rico's Gdp!
Do you know how much the VW Group will invest in new models, environmentally friendly technologies and production facilities in the coming five years? €85.6 billion or about US$106.2 billion at today's rates. Read more »...
- Volkswagen Group Operating Profits Soar 86 Percent In The First 9 Months Of 2011
Whereas the rest of the European carmakers such as PSA Peugeot and Citroen and the Fiat Group are facing troubled times, the German auto industry is enjoying one of its most prosperous eras ever. On Thursday, Europe's largest automaker, the Volkswagen...
- Gm Records $6 Billion Net Loss In First Quarter, Burns $10.2 Billion In Cash
The first quarter numbers are in for General Motors and things aren't looking bright for the largest U.S. automaker as the Obama administration's June 1st bankruptcy deadline nears its end. General Motors recorded a net loss of $6.0 billion in...
- Mg To Bring Three New Cars To Europe – U.s. Plans Scrapped
In addition to a revamped version of the current TF LE500 roadster, NAC, the Chinese owner of MG is planning to introduce three new models in Europe according to company’s managing director, Gary Hagen. “We’re planning a four-car range...
- Honda To Create New Brand In China - First Model To Be Introduced In 2010
Honda’s manufacturing joint venture in southern China, Guangzhou Honda Automobile Co, officially announced its plans to develop a car that will be marketed under an all-new brand. This is the first time that a foreign car venture will develop...