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Category: Autos
Sales of Mercedes Benz cars in China in the first three months of the year rose 86% from a year earlier, significantly outstripping a 9.1% gain for the overall market, Reuters reported. For the full year, Daimler AG (DAI.ETR) expects sales to grow 20% year on year – a “conservative estimate,” Ulrich Walker, chairman and […]
China’s auto sales rose 5.4% to 1.83 million vehicles in March, a slowdown of 50 percentage points from the previous year, the Wall Street Journal reported, citing figures released by the China Association of Automobile Manufacturers. March growth was up slightly compared with that of February, when sales growth lagged to 4.6%, the slowest rate […]
China’s much-vaunted plan to spend over US$15 billion on turning itself into a global leader in new-energy vehicles within 10 years has been submitted to the State Council for approval, state media reported. The plan targets annual sales of five million units by 2020. By 2015 – the end of the 12th Five-Year Plan period […]
SAIC Motor Corp (600104.SH) plans to buy US$4.37 in assets from its state-owned parent in order to boost core competitiveness, the Wall Street Journal reported. Assets to be transferred from Shanghai Automotive Industry Corp to the listed subsidiary include: a 60.1% stake in Huayu Automotive Systems, an auto-parts manufacturer; wholly owned units in the US […]