When BYD announced its 2009 sales target of 400,000 units at the close of 2008, onlookers laughed. But BYD proved them wrong. The key to BYD's success was price reduction. For one, the price of the F3 Basic has been cut from ¥73,800 ($10,700) to ¥59,800. At the end of 2009,
Read MoreHANGZHOU, Zhejiang - Geely Holding Group Co., Ltd. plans to build a new R&D center in Hangzhou with an initial investment of ¥350 million ($50.72 million), Henan Business Daily reported in early February, citing Frank Zhao, vice president and R&D director of Geely. The new R&D center will cover a
Read MoreAs China becomes the world's largest automobile producer, the booming domestic tire market is faced with tougher competition from global tire giants. Michelin, Bridgestone, Goodyear and others are trying to further increase their investment in China one after another with a new round of tire construction projects in the country,
Read MoreTAIWAN - Yulon Nissan Motor Co., Taiwan-based OEM and importer of Nissan and Infiniti cars, holds optimistic expectations towards the market this year, inspired by outstanding profit boost from Dongfeng-Nissan, the Japanese automaker's joint venture in Mainland China, Taiwan Economic News reported on February 23. Yulong-Nissan raised its market share in
Read MoreHANGZHOU, Zhejiang - Geely Holding Group Co., Ltd. signed an agreement on February 26 to acquire a local special-purpose vehicle maker, Zhongyu Automobile Co., Ltd., as part of its portfolio expansion, according to a report in Hangzhou Daily. Geely did not disclose any financial details for the purchase of Zhongyu,
Read MoreThe Chinese government is reportedly mulling over supportive measures to promote China's auto finance industry. Official results are expected to come out soon. The government will reportedly grant low-interest loans to indigenous automakers to develop their auto finance businesses. This signals major opportunities for China's independent automakers to expand their
Read MoreSeiji Kuraishi, 52, general manager of Dongfeng-Honda Automobile Co., Ltd., will take over Atsuyoshi Hyogo's post as head of Honda China Division and general manager of Honda Motor (China) Investment Co., Ltd. (Honda China) on April 1. Meanwhile, Yasuhide Mizuno will succeed Kuraishi as the new general manager of Dongfeng-Honda
Read MoreAs Toyota is recalling 8.5 million cars worldwide due to the dangerous issue of unintended acceleration, Chinese carmakers, consumers and the media are asking a simple question: what happened to a reputable carmaker that has just taken the No. 1 position in sales and to a global brand that is a
Read MoreDETROIT - General Motors Co. announced on February 24 that its sale of the Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. (Tengzhong) failed as the Chinese "was unable to complete the acquisition" before the agreed deadline. As a result, GM will begin the orderly wind-down of the
Read MoreSHENZHEN, Guangdong - BYD Co Ltd (HKSE:1211.HK), a Chinese car and battery maker founded by China's wealthiest man and backed by U.S. billionaire Warren Buffett, aims to boost its car exports this year as it feeds what it hopes will be improving demand in a recovering global economy. BYD (slogan:
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