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China's largest privately-owned car maker Geely will pay even less than $1.6 billion for Volvo, the Economic Observer reported on Monday, citing an unnamed source.
China's largest indigenous automaker Chery Auto plans to outsell its home-grown rival BYD Auto this year, the China Business News (CBN) reported today, citing an unnamed source.
China Faw Group Corp has set its sales target for 2010 at more than 2.3 million units, an increase of 18.3 percent from a year earlier, an executive said Sunday.
Luxury carmaker Aston Martin launched its flagship store in Beijing yesterday evening in a push to increase its presence in the premier Asian market.
Skoda, the Czech subsidiary of German automaker Volkswagen Group, more than doubled its sales to 123,000 units in China last year, a staggering achievement for such a newcomer.
With China now the world's largest auto market, carmakers are eagerly expanding production while eyeing untapped inland markets. Domestic automaker Geely made its bold move earlier than the rest.
Klaus Maier, president and CEO of Mercedes-Benz China Ltd, was recently named CEO of the Year (2009) by sina.com.cn, a leading Chinese Internet portal. It was the second time Maier received the award.
To some urban Chinese, especially the young white collars, cars are no longer luxuries, but commonplace consumer goods.
French auto maker PSA Peugeot Citroen will recall combined 263 autos of three models sold to the Chinese mainland due to defective radio, China's product quality watchdog has announced.
Guangzhou Automobile Group Co, the Chinese partner of Japanese car giants Toyota and Honda, plans to sell shares in Hong Kong, seeking foreign capital to boost its domestic expansion.
A seminar on automotive interior/exterior trim and applied material was held on Jan 14 in Shanghai by Gasgoo.com, China's largest B2B auto parts sourcing platform.
