China Dongfeng Automobile net profit up 79%

2011-03-26 11:40:11

China's Dongfeng Automobile, the listed arm of Dongfeng Motor Company, said Saturday its net profit in 2010 surged 79.54 percent year on year on robust auto sales.

Lexus buffs up Chinese showrooms

2011-03-26 11:18:51

Even after a series of embarrassing recalls last year, Toyota Motor Corp's Lexus managed to remain the No 1 luxury vehicle maker in the United States - a spot it's held for 11 years running.

Chevrolet Volt to go on sale in China by end of 2011

2011-03-25 09:45:55

The world's first "extended range" electric vehicle, the Chevrolet Volt, will be sold in China by the end of this year, said Kevin Wale, GM's head of China operations, on Thursday. 

Carmaker prepares merger

2011-03-24 07:53:07

HONG KONG - Guangzhou Automobile Group Co Ltd, China's No 6 domestic automaker, said it plans to seek a listing on the Shanghai Stock Exchange through a 5.23 billion yuan ($797 million) merger with GAC Changfeng Motor Co Ltd.

Kumho recalls suspect tires and apologizes

2011-03-22 17:37:07

The South Korean tire maker Kumho Tire Co Ltd promised to recall all its faulty products and formally apologized to Chinese consumers on Monday. 

China to increase subsidy for high-efficiency motors

2011-03-21 17:43:08

The Chinese government decided to inject more subsidies to the high-efficiency electric motor industry in a bid to popularize the device throughout the country, Shanghai Securities News reported Monday.

Regulator to ratchet up recall rules

2011-03-21 15:13:57

A new, much stronger regulation governing vehicle recalls will be unveiled this year, Liu Pingjun, deputy director of General Administration of Quality Supervision, Inspection and Quarantine, said in a recent press conference.

Soaring rubber prices drive tire costs

2011-03-21 14:28:08

The price of natural rubber in China is driving an increase in tire prices, International Finance News reported Monday.

China's Jianghuai to raise up to $426m in offering

2011-03-18 17:36:23

Chinese carmaker Jianghuai Automobile Co plans to raise a maximum of 2.8 billion yuan ($426 million) through the issue of new shares, the company said on Friday.

China Auto Rental halts taxi services business

2011-03-18 10:01:39

The country's largest car rental agency, China Auto Rental Ltd, halted all taxi services starting Thursday, two days after its primary competitor eHi was denounced on national television for profiting from the lucrative business that violate laws.

Vehicle budget 'on road to more transparency' in Beijing

2011-03-17 15:06:10

The capital's municipal government will spend about 40 million yuan ($6.1 million) on new official vehicles this year, Beijing News reported on Wednesday.

Nanfang Space to raise $482m through new shares

2011-03-17 15:05:25

China's Nanfang Space Navigation plans to raise 3.17 billion yuan ($482.4 million) through the issue of new shares, it said on Thursday.