China automotive thread

#1 Volkswagen AG (VWAGY)​

  • Revenue (TTM): $284.34 billion
  • Net Income (TTM): $19.76 billion
  • Market Cap: $81.0 billion
  • 1-Year Return (TTM): -36.5%
  • Exchange: OTC

Volkswagen (VWAGY) is a Germany-based multinational automotive manufacturing company. It develops and produces passenger cars, trucks, and light commercial vehicles such as buses. Vehicle models include the Tiguan, Golf, Jetta, Passat, and more. The company stopped making its once-popular Volkswagen Beetle compact car last year due to falling demand for smaller cars. Volkswagen's best-known luxury brands are Porsche and Audi. The company also manufactures parts and offers customer financing and fleet management services.2

PBS. "Volkswagen to Stop Making the Beetle After 81 Years."
3




#2 Toyota Motor Corp. (TM)​

  • Revenue (TTM): $270.58 billion
  • Net Income (TTM): $20.39 billion
  • Market Cap: $189.4 billion
  • 1-Year Return (TTM): -21.8%
  • Exchange: New York Stock Exchange (NYSE)

Toyota (TM) is a Japan-based multinational. It was the first foreign manufacturer to build a dominant market share in the U.S. automobile market by setting the industry standard for efficiency and quality. Toyota designs and manufactures cars, trucks, minivans, and commercial vehicles. Vehicle models include the Corolla, Camry, 4Runner, Tacoma, and the Prius, the hybrid electric sedan. Lexus is the company's luxury car division. Toyota also produces parts and accessories and provides dealers and customers with financing.45



#3 Stellantis (STLA)​

  • Revenue (TTM): $181.58 billion
  • Net Income (TTM): $16.97 billion
  • Market Cap: $45.2 billion
  • 1-Year Return (TTM): -15.8%
  • Exchange: NYSE

Stellantis (STLA)is a multinational automaker that was created in 2021 through the merger of French automaker Groupe PSA and Italian-American automaker FCA (Fiat Chrysler Automobiles). The company is one of the largest automakers in the world, with a strong presence in Europe, North America, and South America. Stellantis offers a wide range of vehicles, including passenger cars, trucks, vans, and SUVs, under various brands including Peugeot, Citroën, DS, Opel, Vauxhall, Jeep, Ram, Dodge, and Chrysler. The company is headquartered in Amsterdam, Netherlands.6



#4 Mercedes Benz AG (MBGYY)​

  • Revenue (TTM): $156.23 billion
  • Net Income (TTM): $25.64 billion
  • Market Cap: $70.2 billion
  • 1-Year Return (TTM): -6.0%
  • Exchange: OTC

Mercedes Benz (MBGYY) is a German-based multinational automobile manufacturer. The company manufactures passenger cars, vans, off-road vehicles, and commercial vehicles like transport trucks and buses.



#5 Ford Motor Co. (F)​

  • Revenue (TTM): $151.74 billion
  • Net Income (TTM): $9.01 billion
  • Market Cap: $46.1 billion
  • 1-Year Return (TTM): -39.0%
  • Exchange: NYSE

Ford (F) is a multinational automotive manufacturer based in Michigan. The company develops, manufactures, and services cars, SUVs, vans, and trucks. Vehicle models include the Mustang, Edge, Escape, F-150, Ranger, and more. The company also provides vehicle-related financing and leasing.



#6 General Motors (GM)​

  • Revenue (TTM): $147.21 billion
  • Net Income (TTM): $9.68 billion
  • Market Cap: $50.0 billion
  • 1-Year Return (TTM): -34.6%
  • Exchange: NYSE

General Motors (GM) is a multinational automobile manufacturer. The company designs and manufactures cars, trucks, and automobile parts. It has been a leader in the development of electric cars, first with the Chevy Volt and its successor, the Chevy Bolt. It operates under four major vehicle brands: GMC, Chevrolet, Cadillac, and Buick. The company also offers automotive financing.78



#7 Honda Motor Co. Ltd. (HMC)​

  • Revenue (TTM): $126.17 billion
  • Net Income (TTM): $5.29 billion
  • Market Cap: $39.8 billion
  • 1-Year Return (TTM): -11.1%
  • Exchange: NYSE

Honda (HMC) is a Japan-based multinational automobile company. It manufactures passenger cars, trucks, vans, all-terrain vehicles, motorcycles, and related parts. Vehicle models include the Civic, Accord, Insight Hybrid, Passport, Odyssey, and more. Acura is the company's luxury car division. The company also provides financial and insurance services.910



#8 Tesla Motors (TSLA)​

  • Revenue (TTM): $74.86 billion
  • Net Income (TTM): $11.19 billion
  • Market Cap: $435.1 billion
  • 1-Year Return (TTM): -54.1%
  • Exchange: NASDAQ

Tesla (TSLA) is a manufacturer of electric vehicles and clean energy solutions. Tesla manufactures four electric models, the Model 3, Model Y, Model S, and Model X. Each model is capable of speeds of more than 135 miles per hour and can accelerate from 0-60 in less than 4.8 seconds. They all have a range of more than 320 miles. Tesla provides financing for retail customers.11



#9 Nissan Motors (NSANY)​

  • Revenue (TTM): $73.73 billion
  • Net Income (TTM): $0.9 billion
  • Market Cap: $12.7 billion
  • 1-Year Return (TTM): -33.4%
  • Exchange: OTC

Nissan (NSANY) is a Japan-based multinational automotive company. It designs and manufactures passenger vehicles and related parts. Vehicle models include the Altima, Maxima, Sentra, Versa, Pathfinder, Rogue, Titan, and its LEAF electric car. The company's luxury division is Infiniti. The company also offers financing and leasing services.121314



#10 BYD Co. Ltd. (BYDDY)​

  • Revenue (TTM): $51.37 billion
  • Net Income (TTM): $1.48 billion
  • Market Cap: $74.7 billion
  • 1-Year Return (TTM): -18.0%
  • Exchange: OTC

BYD Co. Ltd. (BYDDY) is a Chinese multinational corporation that specializes in the design, development, and manufacture of a wide range of products, including electric vehicles, batteries, solar panels, and other renewable energy products. The company is headquartered in Shenzhen, China, and has operations in more than 70 countries around the world. BYD is known for its leadership in the electric vehicle industry and has a strong presence in both the passenger car and commercial vehicle markets. In addition to its core businesses, BYD also has a significant presence in the renewable energy sector and is a leading supplier of solar panels and energy storage systems.1516
www.investopedia.com

10 Biggest Car Companies

With Volkswagon leading the pack, these are the 10 biggest car companies by 12-month trailing revenue.
www.investopedia.com www.investopedia.com
 
Top 10 car companies in the world
Check out the top 10 car companies in the world based on market capitalisation as of September 17, 2024
Rank & Car Company Market cap (in USD) Units sold globally in 2023
#1 Tesla $735.69 bln 1,808,581
#2 Toyota $237.37 bln 11,230,000
#3 BYD $98.99 bln 3,000,000
#4 Ferrari $84.16 bln 13,663
#5 Porsche $68.02 bln 320,221
#6 Mercedes-Benz $67.03 bln 17,408
#7 Xiaomi $61.45 bln NA
#8 Volkswagen $52.74 bln 9,239,575
#9 General Motos
$52.67 bln 6,188,476
#10 BMW $51.07 bln 2,555,341

www.forbesindia.com

10 World's Biggest Car Companies In 2024 - Forbes India

Ready to explore the world's biggest car companies? From Tesla and Toyota to Porsche and Ferrari, we're diving into their market values and key highlights
www.forbesindia.com www.forbesindia.com
 
The issue of EVs catching fire, whether after collisions or even spontaneously, has gained significant public attention. According to Chinese state media, in 2023, over 270 reported cases of electric vehicle fires occurred across China. Of those, only about 10 percent were due to collisions, while over 50 percent were caused by incidents during charging or while the vehicles were stationary

View: https://www.youtube.com/watch?v=zdz76lHYpms
1727918634604.png
 
E-195 said:
The issue of EVs catching fire, whether after collisions or even spontaneously, has gained significant public attention. According to Chinese state media, in 2023, over 270 reported cases of electric vehicle fires occurred across China. Of those, only about 10 percent were due to collisions, while over 50 percent were caused by incidents during charging or while the vehicles were stationary

View: https://www.youtube.com/watch?v=zdz76lHYpms
View attachment 11007
Click to expand...


By 2023, the registered number of new energy vehicles in China has exceeded 10 million.

There are over 600 cities in China,
 
helin said:
By 2023, the registered number of new energy vehicles in China has exceeded 10 million.

There are over 600 cities in China,
Click to expand...
a person has only one life, a fire on a car is easy to say if we are not inside it.
 
helin said:
By 2023, the registered number of new energy vehicles in China has exceeded 10 million.

There are over 600 cities in China,
Click to expand...

BYD issues recall for close to 100,000 vehicles due to potential fire hazards​


Reading Time: 2 minutes

Lawrence Ho

September 30, 2024

BYD has filed a recall of nearly 100,000 vehicles due to a manufacturing fault. According to China’s State Administration for Market Regulation (SAMR), the automaker will recall 96,714 Dolphin and Yuan Plus vehicles in China starting September 30th, 2024 due to fire risks.
carnewschina.com

BYD issues recall for close to 100,000 vehicles due to potential fire hazards

BYD has filed a recall of nearly 100,000 vehicles due to a manufacturing fault. The automaker will recall Dolphin and Yuan Plus vehicles.
carnewschina.com carnewschina.com


A person only has one body and one life only in his life time
 
October 1 marks the end of a measure that allowed the importation of electric vehicles from countries with which Mexico does not have free trade agreements, such as China. This decree, implemented in 2020, was key to allowing Chinese brands, such as BYD, MG, SEV and more recently DFSK, to offer electric vehicles at competitive prices, by being exempt from paying a 20% tariff.

In 2020, the administration headed by President Andrés Manuel López Obrador implemented a decree that exempted electric vehicles imported from countries with which Mexico did not have free trade agreements from paying tariffs.

This measure, which eliminated tariffs that could vary between 15% and 20% depending on the type of vehicle, was not exclusively aimed at China, although it was this country – the largest producer of electric vehicles in the world – that benefited the most, along with some European brands such as BMW, Volvo and Renault. Taking advantage of the decree, these brands imported electric vehicles from China, which in 2023 produced more than 7 million units, reaffirming its leadership in the manufacture of this type of vehicle.

expansion.mx

Termina decreto que benefició a autos eléctricos chinos, ¿adiós precios bajos?

A corto plazo los fabricantes podrán mantener los precios actuales, ya que disponen de inventario importado bajo el beneficio del decreto. Pero, una vez agotado ese inventario, los costos aumentarán.
expansion.mx expansion.mx

Canada to impose 100% tariffs on Chinese electric cars
The Canadian government will also impose a 25% tariff on steel and aluminum from the Asian country. The measures will come into effect on October 1.
es.wired.com

Canadá impondrá aranceles del 100% a los autos eléctricos chinos

El gobierno canadiense también gravará con una tasa de 25% al acero y aluminio provenientes del país asiático. Las medidas entrarán en vigor el próximo 1 de octubre.
es.wired.com es.wired.com


EU states plan Friday vote on Chinese EV tariffs​

Brussels (Belgium) (AFP) – EU member states are expected to vote on whether to slap hefty tariffs on imported electric cars from China on Friday, European diplomats said on Monday.

Issued on: 30/09/2024 - 11:23Modified: 30/09/2024 - 11:21

1 min
www.france24.com

EU states plan Friday vote on Chinese EV tariffs

EU member states are expected to vote on whether to slap hefty tariffs on imported electric cars from China on Friday, European diplomats said on Monday.
www.france24.com www.france24.com
 
helin said:
My advice is to stay away from cars and use horse-drawn carriages
Click to expand...
my advice is do not try to cheat in quality, and do not try to cheat when you export


EU Plans Oct. 4 Vote on Tariffs on Electric Vehicles from China​

  • EU member states are expected to vote Oct. 4 on the measures
  • Europe says that China unfairly subsidizes its industry
www.bloomberg.com

EU Plans Oct. 4 Vote on Tariffs on Electric Vehicles from China

The European Union is planning to vote Oct. 4 on whether to impose tariffs as high as 45% on imported electric vehicles made in China, according to people familiar with the matter.
www.bloomberg.com www.bloomberg.com
 
Last edited:
helin said:
In fact, consumers now love Chinese EVs
Click to expand...
no you are very wrong, consumers like cheap goods but governments also need to keep people working, thus see


A recent report on nearshoring by Moody’s identified a number of announcements by auto companies, including foreign OEMs, regarding plans to invest in Mexico. “The automotive sector is a key player in expressions of interest to expand in Mexico by companies such as Tesla, BMW, Ford and GM, along with Asian manufacturers including BYD and Kia,” Moody’s noted.

Mexico’s government reported $36 billion of foreign direct investment in 2023, a 27% increase over the previous year. In 2024, through mid-year, that figure was $31 billion, a new record, according to the government.

Trump has threatened to impose a 100% tariff on vehicles made in Mexico. During the recent presidential debate, he renewed claims he has made in the past about Mexican manufacturing linked to China. “They’re building big auto plants in Mexico, in many cases owned by China. ... They’re building these massive plants, and they think they’re going to sell their cars into the United States because of these people [Biden administration],” Trump said.

BROWN CALLS ON BIDEN ADMINISTRATION TO STOP CHINA FROM BREAKING INTO USMCA TRADE AGREEMENT​

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WASHINGTON, D.C. – U.S. Senator Sherrod Brown (D-OH) is pushing President Joe Biden to do more to prevent China from undermining U.S. manufacturing by routing its goods through Mexico to evade U.S. tariffs and other trade enforcement. China is actively avoiding U.S. tariffs by moving its manufacturing to Mexico. Meanwhile, Mexico continues to surge its steel exports to the U.S. in contravention of the 2019 steel agreement. These trade abuses threaten American production.

“Stopping China’s abuse of USMCA and Mexico’s steel surge is about protecting American industry and building economic resilience. It is also about enforcing our trade deals. What is the point of reaching trade deals if such deals are not paired with effective enforcement? Tough rhetoric will not serve American industry unless it is met with action,” wrote the senators.

Brown is pushing the Biden administration to ensure the goods that China produces in Mexico do not qualify for duty-free entry into the U.S. and to increase tariffs on Mexican steel imports.

Brown was joined by U.S. Senators Marco Rubio (R-FL), Mike Braun (R-IN), and Bob Casey (D-PA).

The full text of the letter is HERE or below.

Dear Mr. President:

We write to urge additional administrative action to stop Mexico’s unfair steel surge in violation of the 2019 Joint Statement on Section 232 Duties on Steel and Aluminum as well as China’s manipulation of the United States–Mexico–Canada Agreement (USMCA). As you mention in your recent steel proclamation, it is vital to address China’s rampant exploitation of Mexico as an intermediary for the transshipment of goods. Mexico’s steel surge and China’s manipulation of USMCA significantly threaten our country’s industrial capacity and must also be promptly stopped. Accordingly, we ask that you reimpose duties on Mexican steel imports at 2019 levels and that you work to prevent Chinese firms from exploiting USMCA for its own benefit by shifting their facilities to Mexico.

www.brown.senate.gov

Brown Calls on Biden Administration to Stop China From Breaking Into USMCA Trade Agreement | U.S. Senator Sherrod Brown of Ohio

WASHINGTON, D.C. – U.S. Senator Sherrod Brown (D-OH) is pushing President Joe Biden to do more to...
www.brown.senate.gov www.brown.senate.gov
 
Last edited:
E-195 said:
no you are very wrong, consumers like cheap goods but governments also need to keep people working, thus see


A recent report on nearshoring by Moody’s identified a number of announcements by auto companies, including foreign OEMs, regarding plans to invest in Mexico. “The automotive sector is a key player in expressions of interest to expand in Mexico by companies such as Tesla, BMW, Ford and GM, along with Asian manufacturers including BYD and Kia,” Moody’s noted.

Mexico’s government reported $36 billion of foreign direct investment in 2023, a 27% increase over the previous year. In 2024, through mid-year, that figure was $31 billion, a new record, according to the government.

Trump has threatened to impose a 100% tariff on vehicles made in Mexico. During the recent presidential debate, he renewed claims he has made in the past about Mexican manufacturing linked to China. “They’re building big auto plants in Mexico, in many cases owned by China. ... They’re building these massive plants, and they think they’re going to sell their cars into the United States because of these people [Biden administration],” Trump said.
Click to expand...

The consumer is always right
 
helin said:
The consumer is always right
Click to expand...
the voters say in the USA MAGA


On July 10, 2024, your administration re-imposed a 25 percent tariff on Mexican steel melted or poured outside of North America. While this was an important step, it is to be insufficient because it did not apply tariffs to any steel melted and poured in Mexico itself and subsequently affected only 13 percent of total steel imports from Mexico. This step also did not include any measures to stop Chinese steelmakers from shifting their production to Mexico to exploit USMCA and further fuel the steel surge.

We have written to you repeatedly about this surge, expressing our concerns that it has resulted in steelworkers losing their jobs and steel companies having no choice but to defer hundreds of millions of dollars in investment. Along with a bipartisan coalition of Senators and Members of Congress, we also introduced legislation to require the Secretary of Commerce to reimpose 25 percent duties on all Mexican steel imports for no less than a year. However, legislation is not required to remedy these violations; the United States Trade Representative (USTR) already has the authority to raise duties on Mexican steel imports unilaterally. We urge your administration to use it.

We also urge your administration to expeditiously implement the revision to the U.S. Customs and Border Protection Form 7501, announced on March 25, 2024. (OMB Control Number 1651-0022). This revision adds important information about where the steel used in the manufacturing of products was melted and poured, or in the case of aluminum, the countries where the largest and second largest volume of primary aluminum used was smelted. Such a change has the support of domestic steel and aluminum producers, who believe that these revisions will help enforce trade remedy laws and prevent circumvention of sanctions regimes.

It has been well documented that hundreds of multinational firms are shifting their production facilities from Asia to Mexico. This “nearshoring” is a consequence of U.S. tariffs on China, a risky and dwindling Chinese economy, and supply chain woes. While bringing manufacturing back to the U.S. is preferred, and policymakers should prioritize this objective, it is also a welcomed trend when Western companies bring manufacturing back to the Western Hemisphere writ large. Unfortunately, Chinese firms are exploiting this nearshoring trend to avoid paying tariffs on goods they export to the U.S. market. China’s foreign direct investment into Mexico has increased significantly, especially in manufacturing and services—two sectors in which China has notably not invested in other Latin American countries. Notable examples of Chinese firms moving into Mexico are automakers. Chery and MG have established facilities in Mexico, and BYD and SAIC are scouting potential sites. Innovation New Material Technology, China’s biggest producer of aluminum alloy bars is also building a $197 million aluminum plant in Mexico. China is also adding shipping capacity between China and Mexico so that these factories use inputs made in China.

Allowing Chinese firms—which routinely benefit from slave labor, stolen intellectual property, and massive state subsidies—to circumvent American trade enforcement and exploit our free trade agreements threatens American production. Our leaders must work diligently to replace Chinese production with American production, and that of our trading partners. Congress passed a free trade deal with Mexico—not China. Immediate action must be taken to prevent the Chinese Communist Party from exploiting USMCA and weaponizing this important trade deal.

Stopping China’s abuse of USMCA and Mexico’s steel surge is about protecting American industry and building economic resilience. It is also about enforcing our trade deals. What is the point of reaching trade deals if such deals are not paired with effective enforcement? Tough rhetoric will not serve American industry unless it is met with action. There are various issues on which your administration must work with the Mexican government to strengthen our relationship and bolster investor confidence—such as the independence of its judiciary, a more robust security policy, and the enforcement of immigration laws. But we must also focus on these two trade issues because a free trade agreement with the world’s largest economy is a privilege that will be reevaluated in 2026. All the while, we must work with the Mexican government to ensure that our trading partnership is built not just on geographic proximity, but also on a shared goal of defending North American manufacturing jobs from the Chinese Communist Party.

Thank you for your attention to these important issues. We ask that you respond in writing to the below no later than October 11, 2024:

  • Please detail your efforts to stop Chinese firms from exploiting Mexico’s duty-free entry to the United States. Similarly, please provide any efforts that the Mexican government has adopted to the same end.
  • Please describe your assessment of each Chinese industry that has established, is establishing, or which you suspect may establish production in Mexico and, of those, identify those which you think may injure American industry or threaten national security.
  • Please list the Mexican subsidies to Chinese firms of which you are aware.
  • What are you and the Mexican government doing to ensure that entry summaries are accurate and transshipments of Chinese goods from China are not undercounted?
  • Will you commit your administration to work with our offices on a legislative fix to China’s backdoor entry to the U.S?
  • https://www.brown.senate.gov/newsro...hina-from-breaking-into-usmca-trade-agreement
 
Will prices of Chinese electric vehicles rise?
Isidoro Massri, director of JAC in Mexico, assured that the prices of its models will not be affected after the end of the tariff exemption, thanks to the final assembly of its vehicles in the country, which allows them to avoid those additional costs. “We have a plant that allows us not to pay tariffs. When the product is assembled locally under the CKD (Completely Knocked Down) process, in which the modules are imported from China and assembled here, acquiring a Mexican VIN, tariffs are not applied,” he explained in an interview.

Massri stressed that JAC's pricing strategy is based on offering products with the appropriate equipment and technology for the Mexican market, without subsidies, ensuring fair prices.

Other brands without local manufacturing have already begun to adjust their strategies in light of the imminent elimination of the exemption.

Volvo, for example, has decided to subsidize the price of its electric models to maintain competitiveness, while exploring options such as moving part of its production to Europe to take advantage of tariff preferences under the Free Trade Agreement between Mexico and the European Union. However, Raymundo Cavazos, CEO of Volvo Cars Mexico, warned that the content of the vehicles must comply with the origin requirements to avoid tariffs.

The company is evaluating the construction of a battery plant in Gothenburg, Sweden, which would allow for greater integration of European content in its vehicles. This move is part of a long-term strategy that Volvo is implementing to ensure price competitiveness while complying with the requirements of the treaties.

In the short term, Volvo faces the challenge of adjusting its strategy to adapt to changes in tariff policy and market expectations. "The plan is there. The problem is in the very short term. That is, the decisions that are made now require adjustments, knowing that in the long term we will be fine," Cavazos said in an interview.

Zeekr, a brand owned by the Geely Group, has decided to maintain production in China due to the efficiency and economy of scale of its facilities, which allows it to offer competitive prices that currently could not be matched by another plant in Mexico or another country.

Edgar Suárez, country manager of Zeekr in Mexico, assures that “we are not going to sacrifice the product to address geopolitical movements. Even though we have this tariff, we will continue to be competitive.”
expansion.mx

Se acaba el beneficio: ¿subirán de precio los autos eléctricos importados de China?

El fin de la exención arancelaria para vehículos eléctricos importados desde países sin tratado de libre comercio podría elevar sus precios, reduciendo así su accesibilidad.
expansion.mx expansion.mx

Stopping China’s abuse of USMCA and Mexico’s steel surge is about protecting American industry and building economic resilience.
www.brown.senate.gov

Brown Calls on Biden Administration to Stop China From Breaking Into USMCA Trade Agreement | U.S. Senator Sherrod Brown of Ohio

WASHINGTON, D.C. – U.S. Senator Sherrod Brown (D-OH) is pushing President Joe Biden to do more to...
www.brown.senate.gov www.brown.senate.gov
 
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