China Economic ReviewGeneral Motors’ (GM.NYSE) China sales in January rose 22% year-on-year to a record 268,071 units, the Wall Street Journal reported. GM sales in China expanded 28.8% in 2010, and growth continued in January despite concerns that the discontinuation of government incentives for vehicle purchases at the end of last year would adversely affect demand. Overall auto […]
General Motors (GM.NYSE, GMM.U.TSX) sold more vehicles in China than in the US in 2010, the first time a foreign market has overtaken the automaker’s domestic sales in its 102-year history, state media reported. GM’s sales in China rose 28.8% to 2,351,610 vehicles in 2010, while US sales increased just 6.3% to 2,215,227 units. Overall, […]
Japanese automaker Toyota (TM.NYSE, TYT.LSE, 7203.TYO) is developing a new electric car motor for hybrids to reduce its dependence on China’s rare earth minerals, the Wall Street Journal reported. Toyota is reportedly on the verge of a breakthrough in developing an electric motor that does not use rare earth metals. The price of rare earths has risen […]
China has rejected reports in French media that Chinese firms had been involved in the leaking of Renault (RNO.Euronext) trade secrets, Bloomberg reported. Reports suggested that Renault had discovered payments by China State Grid into Swiss bank accounts held by two executives. "The accusations are baseless and irresponsible, and the Chinese side cannot accept them," […]
Auto sales rose 32% in China last year to 18.06 million units, state media reported, citing the China Association of Automobile Manufacturers (CAAM). Passenger car sales were slightly higher, increasing 33.2% to 13.75 million units. Total auto production rose 32.4% to 18.26 million units. The CAAM said it expected auto sales growth to slow in […]