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Pollmann News April 2014

Latest automotive news from the European market is sparse and mostly negative. The picture is brighter in the U.S., and reports from China are glowing with record sales and company acquisitions and investments by firms from the Middle Kingdom. This is a development which we have been observing for the past 24 months and which continues to gain speed: Just like its competitors Dongfeng, Geely and SAIC Motor, BAIC is looking increasingly abroad. Since the company is not very well known overseas, a foreign brand could help getting it established outside China, Dong told the German financial newspaper Handelsblatt. Last week, BAIC and Daimler signed an agreement on the expansion of automotive production in China. The two automotive groups have been partners since 2006. Three years ago, BAIC also acquired some technologies of Swedish brand Saab. Dongfeng recently bought a 14 percent stake in struggling car maker Peugeot.
Rival Geely, which already owns the Swedish Volvo brand, acquired British electric vehicle maker Emerald Automotive in March. Swedish car maker Volvo targets annual sales of over one million vehicles in the long term thanks to strong demand in China. Because of strong demand in China and cost savings, the Swedish company earned a profit equivalent to 217 million euros last year - compared to only 7.5 million in 2012.
The U.S. automotive market is also booming - but not for Volkswagen which saw last month’s sales drop by 2.6 percent. The competition, on the other hand, recorded gains - Ford three, Toyota five, Chrysler a whopping 13, Audi 7.5, Mercedes 11, BMW 7.9, Porsche 9 and GM 4 percent.
Like other automotive companies, Pollmann anticipated the market development in the U.S. and China and has successfully established and grown its production in the U.S. since 2001 and in China since 2006.

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