10th China Changchun Intl Automobile Expo kicks off
As markets in first-tier cities slow, first-time buyers in lower-tier cities will be the major force driving the automobile industry's future growth.
A growing number of residents in major mainland cities think the domestic cars are becoming better, but more buyers still intend to purchase a foreign brand.
Recent thunderstorms in Beijing reminded people of one of the most serious downpours the city for six decades.
The lack of liquidity at domestic banks is making it harder to get a car loan in Beijing, but that is likely to have minimal impact on the mostly cash market.
BMW Brilliance aims to triple its 2012 sales to achieve even greater success in the next decade, said the joint venture's top executive at a ceremony to mark its 10th anniversary.
State auto groups in China used to sit back and harvest the easy money from joint-venture brands, but as the domestic market cools and their ambitions grow, international markets have become a greener pasture.
The 10th China Changchun International Automobile Expo kicked off on Friday in Changchun, capital of Northeast China's Jilin province.
Although new car sales have been slowing in China since 2011, used car sales are picking up speed and providing momentum to overall retail sales.
Beijing Automotive Group will finish listing its H-shares during the first half of 2014 with plans to raise more than ten billion yuan, Beijing Times reported.
For a long time, after Lamborghini introduced models with scissor doors, many still felt that the fancy doors were only available on a few famous cars.
For the 2013 Fortune 500, Beijing Automotive Group ranks 336, with revenue at $33.4 billion and profits of $1.07 billion.
Eight Chinese cities are likely to implement car sales curbs, which would slash sales by 25 percent in those localities.
Haima Automobile Group Co announced Monday that the board of directors received the resignation of Jing Zhu, Haima's chairman.
Renault, a famous automaker and latest to enter the Chinese market, formed a joint venture with Dongfeng Motor Corp this month. The total investment of this passenger car project is 7.21b yuan to 11b yuan.
Sinotrust recently issued a report on dealer distribution networks, showing that the net withdrawal of Chery's dealers had reached 16 in the first quarter of this year.
Great Wall Motor Co, China's largest SUV maker, has signed a strategic agreement with German parts maker the Kostal Group.
Following Beijing, Shanghai, Guangzhou and Guiyang, a city near Beijing will become the fifth in China to restrict the purchase of vehicles for private use.
Over the past three decades, "consolidation" has been a buzzword in the Chinese auto industry.
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