Continental’s Post

On April 19th, China's Chery Automobile Company and Spain's Ebro Company held a signing ceremony for an electric vehicle cooperation agreement in the free trade zone of Barcelona, Spain. After the agreement was signed, Chery and Ebro will establish a joint venture to produce Chery Omoda electric vehicle models and Ebro brand cars in Barcelona. This cooperation marks the establishment of Chery Automobile's first production base in Europe, and Chery will become the first Chinese car company to produce cars in Europe. Chery Holding Group sold 181585 cars in March, a year-on-year increase of 45.3%; In the first quarter, a total of 529604 cars were sold, a year-on-year increase of 60.3%, continuing to maintain a high-speed growth trend. In the first quarter, Chery Group sold 60133 new energy vehicles, a year-on-year increase of 124.3%; Accumulated exports of 253418 vehicles, a year-on-year increase of 40.9%. In the first two months, Chery Group's sales growth rate was 70%, far exceeding the industry growth rate of 11.1%, ranking first in the entire industry. The China Association of Automobile Manufacturers predicts that with the traditional peak season of the automotive market in March and the release of consumer promotion policies at all levels, the year-on-year growth rate of narrow passenger car retail is expected to be 3.7%. Chery Group has achieved an accelerated growth rate of almost 12 times that of the industry, accelerating its journey upwards. #Connectors #Terminals #CableHarness #CableHarnessManufacturers #CableHarness #TE #Molex #JST #Yazaki #KET #Deutsch #HRS #Delphi #Hulane #Sumitomo #JAE #Bosch #Amphenol #KST #Aptiv #KST #Phoenix #housing #connectors #seal #terminals #electronics #wiringharness #wire #components

That’s We Make

2023 new car 🚘 sales closed at 30,225 (-2.31%). Tight supply and high COE level 📈 continues to keep buyers on the sidelines. With #COE supply expected to increase from 2024, and potential changes to the bidding system to exclude private hire vehicles, will we see cheaper car prices, and a bumper year for car dealerships as COE prices are expected to dip 📉 ? At the current CAT B COE (right to own a car for 10 years) price of S$112,000, a Toyota Camry costs a whopping USD$150,000. Only in Singapore are #Mercedesbenz and #BMW among the top 3 selling automotive brands nationwide. #Toyota beats #Mercedes by 7 units, #BMW has 2 dealers, #BYD ranks in the top 5 selling #EV only. (excludes PI) Top 5 Authorized Dealers in Singapore 1. Toyota / Borneo - 3,857 👑 2. Mercedes Benz / Cycle & Carriage - 3,850 3. BMW / PML + Eurokars - 3,379 4. BYD / Multiple - 1,416 5. Nissan / Tan Chong - 1,329 #automotive #Cyclecarriage #Eurokars #tanchong #borneomotors

Dongfeng-Spain, Portugal Salvador Caetano Auto and Dongfeng Motor Corporation establish a strategic alliance in Spain and Portugal. The Chinese giant Dongfeng will arrive in Spain this year with the help of Salvador Caetano! Jan 25 news.eseuro The Asian giant registered 2.4 million cars last year, although only 231,000 outside China, which is why it is committed to entering new markets as part of its international expansion strategy. The trickle of announcements about the entry into the Spanish market of new car brands from China continues. Now it is the turn of the giant Dongfeng, which plans to officially start its commercial activity in Spain later this year, for which it has chosen to do so through the importer Salvador Caetano. The trickle of announcements about the entry into the Spanish market of new car brands from China continues. Now it is the turn of the giant Dongfeng, which plans to officially start its commercial activity in Spain later this year, for which it has chosen to do so through the importer Salvador Caetano. Dongfeng has chosen to select a company that acts as importer and distributor of its models in the Spanish market and also in Portugal. It has opted for a proven figure in the sector such as Salvador Caetano Auto and follows in the footsteps of BYD, which also opted for Salvador Caetano, as well as Astara and Quadis. However, other brands such as Omoda decided to enter Spain with their own corporate structure. #Source news.eseuro #dongfeng #automotive #retail

"No chance I can supply to a multinational firm." Are you an SME struggling to level up? Want to see where you have a chance? Index.hu interviewed #automotive #manufacturers present in Hungary. Here are the takeaways - and tips: -> Suppliers need to meet rigorous standards both in terms of quality & volume. To overcome this, Magyar Suzuki Zrt suggests that new players first supply to other car #suppliers and then move their way up (they also help you develop). Mercedes-Benz underlined that in non-core components & supporting services there's a good chance to start. -> All companies would like to promote local players: Mercedes-Benz have a localization strategy (as well as the soon-to-launch player BMW with its local for local model). -> The numbers, though, vary widely: Suzuki is the clear leader with 1/3 local suppliers, while Audi and Opel have ~10%. (Audi: ~10% of ~1000 suppliers, Opel: 9% value add in their 3rd gen engine.) So to sum it up: -> It's possible to get involved. -> But you may need to take the long route: supplying to a #supplier first or working in non-core areas. What are your experiences? #supplychainmanagement