As foreign investment floods into China's burgeoning car rental market, the sector is facing a possible reshuffle due to increased competition.
Automobile manufacturers continued to benefit from brisk domestic sales in November, as General Motors (GM) led the industry in releasing higher figures on Thursday.
Luxury car buyers in Beijing, Shanghai and Guangzhou might face delayed delivery of their dream cars or be forced to accept dealer surcharges as high as 100,000 yuan if they want to get them before the Spring Festival, the Internet news portal 163.com reported Thursday.
General Motors and its Chinese partners sold 196,990 vehicles in China in November, up 11.2 percent from a year earlier, Reuters reported on Dec 2.
Rolls-Royce Motor Cars Ltd, Bayerische Motoren Werke AG's luxury division, plans to sell 800 cars in China in 2011 as it aims to raise sales eightfold in two years in the world's largest auto market.
Japanese car maker Toyota Motor Corp plans to begin assembling plug-in hybrids in China by 2012, when it kicks off domestic production of the vehicles, Reuters reported, citing the Nikkei business daily.
Pacific Century Motors (PCM), a joint venture between Tempo Group and the Beijing municipal government, completed the acquisition of General Motors' steering-parts manufacturing unit on Tuesday, setting a record for the biggest single overseas purchase in China's automobile parts industry.
Auto sales growth in the Chinese market will reach 30 percent in 2010, but might slow to 10 percent in 2011, China Business News Daily reported Tuesday, citing a report from the US-based J.D. Power and Associates.
Beijing residents who buy new-energy vehicles will be entitled to a subsidy of up to 60,000 yuan, according to a new plan proposed by the local government.
Volvo and Changan Ford Mazda Automobile Co said they would recall 18,848 vehicles in China beginning Monday to repair problems that might pose safety problems.
Beijing will promote the use of 30,000 electric and hybrid cars, build 100 recharging stations and provide 36,000 rechargers by the end of 2012, People’s Daily reported Monday, citing the Beijing Municipal Science and Technology Commission.
China's biggest minivan producer SAIC-GM-Wuling Automobile Co unveiled the first car under its newly created Baojun brand on Nov 22, a model designed to tap rising demand for mid-priced passenger cars.
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