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Xu Heyi: One-third of automakers could be gone by 2020

At least 20 percent and possibly one-third of Chinese automakers could be gone by 2020, predicted Xu Heyi, chairman of BAIC Group. “The pace of consolidation will accelerate and rankings of both Chinese and multinational automakers such as Volkswagen and General Motors will change significantly by then,” said Xu. “Companies

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Chinese auto industry looking to strengthen ties with Detroit automakers, parts suppliers

China’s automotive industry needs to increase its spending on research and development and strengthen its joint venture ties with U.S. automotive manufacturers, a top Chinese automotive official said today in Troy. “For the China automotive industry to go into international markets we need

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Federal prosecutors open criminal probe of GM recall

(Reuters) - Federal prosecutors are examining whether General Motors is criminally liable for failing to properly disclose problems with some of its vehicles that were linked to 13 deaths and led to a recall last month, according to a source familiar with the investigation.   The New York-based

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CAAM insists restrictions on intl automakers

China's auto lobby has opposed a possible move by Beijing to ease restrictions on foreign ownership in the car industry, saying that the move would seriously weaken the position of domestic carmakers. Dong Yang, secretary general of the China Association of Automobile Manufacturers (CAAM), said that if foreign ownership rules

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