China Economic Reviewmini-car design from a unit of General Motors. SAIC is GM's main China joint venture partner in a rapidly expanding market, reported the Financial Times. The sale could open the way for legal action against Chery, whose vehicle looks similar to a GM mini car called the Matiz, produced by the South Korean-based GM Daewoo […]
Foreign and domestic carmakers in China sold 52 percent more locally made cars in September than a year earlier as price cuts and rising incomes led to higher demand. The China Association of Automobile Manufacturers said car sales in the first nine months soared 69 percent to 1.34 million units. Government statistics showed average disposable […]
Shanghai Automotive Industry, China's second-largest carmaker, said yesterday that sales in the first nine months jumped 41.7 percent. The firm sold 419,000 cars from January to September.
Overcapacity will be a major factor in the Chinese motor manufacturing industry in the next two years, according to auto industry consultants in KPMG's financial advisory services. Paul Brough, managing partner, said annual vehicle sales had grown to 3.3m units from 1.4m over the past eight years and were expected to grow annually at 8 […]
Car giant DaimlerChrysler has signed a new agreement with its joint venture partner Beijing Automotive Industry Holding Co, the New York Times said. Under the deal, the venture will build a new facility outside Beijing to replace the existing Beijing Jeep plant. The new plant will produce Mercedes C-class and E-class cars, as well as […]