Category: Autos

Source: China Daily

Chinese automaker BYD (1211.HK) reported sales of 40,100 cars in April, up slightly from March but down 11% from the previous year, state media reported. BYD, which has been backed by US billionaire Warren Buffett, has seen car sales fall on an annual basis since August, largely due to overly aggressive expansion and sales strategies, […]

Saab Automobile said Monday it had signed a strategic partnership agreement with China’s Hawtai Motor, following talks with several potential Chinese partners to help solve Saab’s cash shortage, the Financial Times reported. Saab halted production for the past three weeks after several suppliers stopped deliveries because of unpaid bills. No further details were given on […]

Volkswagen (VOW.ETR) reported record operating profit in the first quarter as Audi and VW brands continued to perform strongly in China, Bloomberg reported. Earnings before interest and tax more than tripled to US$4.27 billion, and sales increased 31%. VW’s Chinese joint ventures, which are not included in group-level operating profits, contributed another US$820 million to […]

China’s car market may experience slower growth this year, a senior government official warned just a day ahead of the Shanghai auto show, the Wall Street Journal reported. “We haven’t seen overcapacity in China’s auto market in the past few years, but if automakers keep output growth as the current pace, China’s auto market will […]