Southern Networks started May 19 and was appointed as the CEO of Fiat Auto Italy in October last year. Dr. Deyer began his first visit to China. During the visit, Demel once again expressed the importance of China to Fiat Auto: "China is Fiat's strategic market. Some projects of Fiat's joint ventures in China will be launched within the year." Also an international auto giant Volkswagen AG Last week, they expressed their emphasis on the Chinese market by upgrading Chinese institutions. On May 21, Volkswagen Group officially announced the restructuring of the group's China business structure. After adjustments, Volkswagen Group China replaced the original Asia Pacific region as a primary organization that manages China business in a unified manner and is directly responsible to the Volkswagen Group's global board of directors. On May 21st, Geely Holding Group’s 210,000th vehicle drove off the Geely car production line. In 1997, Geely entered the Chinese automobile industry as the first private enterprise. On August 8, 1998, the first Geely Automobile went offline in Linhai City, Zhejiang Province. After five years of unremitting efforts, Geely entered the "3+6" mainstream pattern of China's domestic automobile manufacturers at an average annual growth rate of 117%. Therefore, the 21,000 Geely off the assembly line can be said to be a victory for the Chinese national automobile industry. On May 18th, another privately owned company, Oaks Motors launched the "Summer Storm" launch promotion campaign and cut the price by more than 10,000 yuan. Interestingly, users who bought the Oaks car before the price reduction can return the difference price and compensate for the difference in the car users. This is really a novelty in the car market where the car price drops frequently. Last week, the highly anticipated Ford Mondeo 2.5 V6 debuted to the media in advance. It is reported that the new Ford Mondeo 2.5 V6 will be publicly unveiled at the Beijing International Auto Show held in June 2004 and the price will be announced. Chang An Ford executives expressed the hope that this model will establish a new benchmark for mid- to high-end cars. On May 20, the unveiling ceremony of the new factory of BMW Brilliance was held in Shenyang. This undoubtedly demonstrated that BMW has to make long-term efforts in China. On May 18th, Shanghai General Motors suddenly announced that Buick’s full range of price reductions has occurred. This is another big move after the low price of Guangzhou Honda New Accord last year, which triggered the first round of price war on mid- to high-end cars. In fact, Shanghai GM’s actions show that the new round of price wars is approaching the relatively profitable domestic high-end car market. The price of this price, which has been fairly strong, is likely to fluctuate in the near future.
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