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China's natural rubber production growth may be little changed this year as a drought in key growing regions curbs output, said Zhu Xiuyan, president of the China Natural Rubber Association.
Financing and technology issues could delay Zhejiang Geely Holding Group, the parent of Geely Automobile, in its plan to acquire the Volvo brand from US automaker Ford Motor Co, said sources familiar with the matter on Tuesday.
With growing car ownership in the city, vehicle maintenance and repair has become a huge source of profit, industry sources said.
BYD Co, the Chinese carmaker backed by Warren Buffett, has given up a plan to mass produce electric cars in China by the middle of this year, the South China Morning Post said.
Chinese car and battery maker BYD Co, backed by US billionaire investor Warren Buffett, will lift capital expenditure by 58 percent this year, its chairman said, as it embarks on an aggressive expansion plan.
Tire sales growth in China, the world's largest rubber consumer, will be three times the global rate in coming years as car ownership increases, Sumitomo Rubber Industries Ltd said.
By now, just about everyone has heard that China eclipsed the United States as the largest vehicle market in the world in 2009.
Audi AG, the luxury arm of Germany's Volkswagen Group, plans to again lead the sector in China with sales of 200,000 units in 2010 after moving nearly 160,000 cars last year in its largest overseas market.
Guangzhou - Powered by the country's steady growth and a record-breaking auto market last year, German carmaker Volkswagen Group expects China's vehicle sales to climb 15 to 20 percent in 2010.
Japanese automakers' recent product recalls were not only a warning to Chinese homegrown brands not to expand too fast and ignore management and quality control, but also sounded an alarm to China's automobile recall system.
China's Ministry of Information and Technology issued a guideline Sunday, urging the nation's auto producers to establish quality accountability mechanism to improve quality management.
Shanghai General Motors (SGM) is contacting the owners of 2,065 Captive jeeps to recall the vehicles for repair due to risk of steering malfunction, the company said on Friday.
