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Yang Rong had originally planned to retire in 2010 having achieved the ambitious target of helping to foster 100 billionaires and 1,000 millionaires through his enterprises in China. However, he didn't accomplish those aims and as the new year dawned. He is making a fresh start, in the automobile industry.
Wang Chuanfu has been assiduously cultivating his dream of becoming king carmaker.
Zhang Jilong's new year resolution is to buy a light-duty truck, taking advantage of the government's stimulus measures on vehicle purchase in rural regions.
Shares of SAIC Motor Corp declined sharply on Friday after the automaker failed to raise the planned 6.1 billion yuan in financing through a warrant issuance that expired on Thursday.
China's passenger vehicle market ended last year with a 59 percent year-on-year sales increase to surpass the United States as the world's largest auto market for the first year, thanks to the central government's stimulus package.
Major Chinese automaker Dongfeng Motor Group, sold 1.05 million passenger cars in 2009, up 45.6 percent from a year earlier, an industry source said on Friday.
Ford Motor Coposted a 44 percent jump in its China vehicle sales in 2009, and aims to outpace growth in the world's largest auto market this year, banking on continued state policy incentives to drive demand.
Volkswagen AGsold 36.7 percent more cars in mainland and Hong Kong in 2009 than in 2008, the company said on Thursday.
SAIC Motor Corp, China's largest automaker by sales, said yesterday it expects a more than nine-fold rise in 2009 net profit on the back of a remarkable sales jump.
Toyota Motor Corp said yesterday it sold 21 percent more cars in China in 2009 compared with a year earlier, lagging rival General Motors' 67 percent gain.
Chinese electric car maker Tianjin Qingyuan Electric Vehicle Co hopes to sell 3,000 self-made electric vehicles mostly in the United States in 2010, 50 percent more than what it has shipped there in the past five years, an industry source said on Wednesday.
Top Chinese auto maker SAIC Motor Corp forecast on Wednesday that its 2009 net profit would jump more than 900 percent from 2008, propelled by a 57-percent year-on-year rise in vehicle sales.
