The price of private vehicle license plates in Shanghai soared to a three-year high of 48,855 yuan ($7,544) on June 18, rising 1,155 yuan from May's figure amid worries over tighter rules on car ownership.
BYD Co, the Chinese automaker backed by Warren Buffett, said it will raise 1.42 billion yuan ($219 million) in its Shenzhen, China share sale, less than the company originally sought.
Although China's automobile market is facing challenges such as the first year-on-year sales drop in April since 2009, Kevin Wale of General Motors China is optimistic about the industry's future in the country.
Electric vehicles will be exempt from annual taxes starting from Jan 1 next year, according to a draft regulation by China's State Council.
In a move insiders see as groundwork for new energy vehicles and batteries, the chairman and largest shareholder of automaker Geely has personally invested in the Australian lithium compound company Galaxy Resources.
While May's 1.4 percent drop in light vehicle sales - the first fall in 27 months - might look discouraging, the market is not overly pessimistic as it sees the rationale behind the decline.
The growing number of car owners in China is proving to be a big attraction to the after-sales market in the almost two years since sales boomed.
Lotus Cars Ltd announced its official foray into China on Wednesday, seeing the huge potential from China's surging super sports-car market.
The sales of high-end cars may rise 35% this year in China, compared to global sales growth of 10%.
China's domestic carmakers now have a new option to ship their vehicles to overseas markets, after a cargo vessel capable of carrying 5,000 cars began operations.
Ford Motor Co broke ground on Thursday on a $500 million engine factory in Southwest China as the automaker seeks to expand in the world's largest market and boost global sales by 50 percent in four years.
BYD Co Ltd, the Chinese car maker said late Thursday that it had received formal approval from China's top securities regulator for an A-share listing on the Shenzhen market.