The Italian luxury sports car maker Ferrari sold 177 vehicles in China last year, 27 units more than its previous forecast. It also expects China to become its fifth largest market in next five to six years, Xinhua News Agency reported today.
Ferrari sold a total of 6,400 vehicles worldwide last year, up 14 percent year-on-year, [...]
Shares in SAIC Motor Co Ltd rose 2.79 percent yesterday after China’s largest car maker reported its net profit for last year would be substantially higher than the previous year.
In a filing to the Shanghai Stock Exchange yesterday, SAIC Motor estimated its 2007 earnings at 4.26 billion yuan (US$672.2 million), up from 1.42 billion yuan [...]
Though China’s automobile industry has experienced a spectacular growth over the past year, however, about a half out of China’s top ten automakers, including joint venture automakers, have failed to meet their sales target for 2007.
Beijing Hyundai is the biggest underachiever in Chinese market in 2007. The automaker originally planned to sell 310,000 vehicles in [...]
Geely Holdings Group Co, the Chinese maker of $5,000 compacts, will add five new models a year, including sedans, until 2010 because of faster-growing demand for larger cars in the world’s second largest auto market.
The carmaker will also raise its annual production capacity in China to 1.7 million vehicles by 2015, Vice-President Zhao Fuquan said [...]
IN the history of Volkswagen AG, Europe’s biggest car maker, Carl H. Hahn holds a special place.
Joining the company in 1954 and being chairman of the board of management of Volkswagen from 1982 to 1992, Hahn saw the rise and fall of the global auto industry and headed the German car maker’s success in introducing [...]
General Motors Corp, banking on emerging markets to counter falling sales in the United States, posted its slowest growth in China in at least five years as Volkswagen AG and Ford Motor Co lured customers with newer models.
The auto maker’s China sales rose 19 percent in 2007 to 1.03 million vehicles, it said in an [...]
