General Motors Corp.’s Asia-Pacific president lowered his outlook for growth in China’s auto market this year as weaker Chinese stocks and higher fuel prices curb demand.
Nick Reilly cut his prediction for 2008 growth in China’s auto market, the world’s second-largest after the U.S., to between 11% and 12%, down from the 12% to 15% growth [...]
General Motors Corp., the biggest overseas carmaker in China, forecast its sales in the country will grow up to 15 percent a year as economic growth spurs demand for new cars.
The company expects sales to grow between 10 percent and 15 percent a year over the next five years, Nick Reilly, the carmaker’s Asia-Pacific president [...]
Chinese car maker Geely Automobile Holdings Ltd will not cut prices this year despite slower growth in the country, the world’s second-largest automobile market, its top executive said on Wednesday.
Geely is also confident it can achieve its sales target of 230,000 units in 2008, a rise of 27 percent from last year, despite a weak [...]
BMW AG yesterday announced that it has begun offering interest-free loans to its customers in China in a bid to help boost sales after weak domestic demand resulted in a drop in year-on-year sales in August for the first time.
Customers buying the BMW 320i and BMW 523i luxury sedans made by its Chinese venture, BMW [...]
Germany-based automaker Opel will introduce its sports utility vehicle (SUV) model Antara to the Chinese market at the end of this month, Opel’s first SUV model that brought into the country, as per industry sources.
The model, which made its introduction in Paris last year, is a four-wheel drive SUV built on the same platform with [...]
Italian carmaker Fiat Auto has recently signed an agreement with China’s Guangzhou Auto Group for technical cooperation. Meanwhile, Fiat Group has decided to invest 1.8 billion yuan ($263 million) to build a light diesel engine plant in Chongqing city. All this shows the determination of Fiat to maintain its presence and growth in the fast-growing [...]
