Sichuan Tengzhong Heavy Industrial Machinery Co Ltd (Tengzhong) Thursday announced that it is withdrawing its proposed acquisition of Hummer from General Motors (GM), having been unable to obtain clearance of the transaction from the Chinese regulators within the proposed deal timeframe.
Following talks with GM, both sides have decided to discontinue discussions on the transaction and [...]
SAIC Motor, the listed arm of China’s auto giant Shanghai Automotive Industry Corporation (SAIC), said Saturday its car sales totaled 307,384 units in January, up 89.8 percent from a year earlier.
January’s output stood at 296,685 units, up 90.2 percent year-on-year, said the automaker in a statement filed to the Shanghai Stock Exchange website.
Its subsidiary Iveco [...]
Toyota Motor Corp said yesterday it sold 21 percent more cars in China in 2009 compared with a year earlier, lagging rival General Motors‘ 67 percent gain.
Toyota, which competes with Honda Motor and others, sold 709,000 cars in China in 2009, up from 585,000 units a year earlier, it said in a statement.
That compared with [...]
General Motors’s China vehicle sales in 2009 jumped 66.9 percent from a year earlier, the company said on Monday.
General Motors and its joint ventures sold 1.83 million vehicles in the country last year and expanded its market share to an estimated 13.4 percent, up from 12.1 percent at the end of 2008, it said in [...]
Although it is still struggling with paying back debt in the West, the revived General Motors has started further expansion in the East, under a new cooperation model with its Chinese partner.
Earlier this month, General Motors Co and Shanghai Automotive Industry Corporation Group (SAIC) jointly announced that they had agreed to expand their long-time cooperation [...]
China’s auto sales and output both exceeded 12 million units in the first 11 months, the China Association of Automobile Manufacturers (CAAM) announced Monday.
The CAAM forecast sales and output for the whole year would both exceed 13 million units.
In November alone, sales reached more than 1.35 million units, according to preliminary statistics. Detailed figures are [...]
