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Aug 19, 2011

End of Incentives hurt independent China auto brands

BEIJING, Aug 19 (Reuters) – China’s home-grown automakers
are reeling after Beijing stripped away tax incentives for small
cars at the end of last year, a move that helped take the
world’s largest auto market off the boil, but one that could
force weaker firms into consolidating.

In the seven months since the incentives were lifted, the
entire sector has downshifted to a more sustainable 6 percent
annual growth rate. Analysts say some independents that suffered
the brunt of the policy shift might seek tie-ups to stay afloat
unless conditions improve.

Aug 10, 2011

China July car sales rise 6.7 pct; India down sharply

BEIJING, Aug 10 (Reuters) – Car sales in China climbed 6.7
percent in July from a year earlier, extending a pattern of
subdued growth in the world’s largest auto market as the weak
auto selling season kicks in.

Sales in India fell 15.8 percent in July, the first drop in
two-and-half years, and higher interest rates and rising vehicle
costs are expected to keep demand subdued for the next few
months.

Jul 26, 2011

Nissan to invest $7.8 billion in China by 2015

BEIJING (Reuters) – Nissan Motor (7201.T: Quote, Profile, Research, Stock Buzz), the largest Asian automaker in China, plans to invest 50 billion yuan ($7.8 billion) there by the end of 2015, as it accelerates its expansion in the world’s largest auto market.

Dongfeng Motor Co (DFL), Nissan’s venture with Dongfeng Motor Group (0489.HK: Quote, Profile, Research, Stock Buzz), aims to sell 2.3 million vehicle, up from 1.3 million units last year, Nissan Chief Executive Carlos Ghosn told reporters in Beijing on Tuesday.

Jul 26, 2011

Nissan says aims to nearly double China sales by 2015

BEIJING, July 26 (Reuters) – Nissan Motor , the
largest Asian automaker in China, plans to nearly double its
annual sales in the country to 2.3 million vehicles by
the end of 2015, the company said on Tuesday, as it accelerates
its expansion in the world’s largest auto market.

The company plans new investment of 50 billion yuan ($7.8
billion) in China by the end of 2015, it said in a statement.

Jul 22, 2011

China home prices teeter on a precipice

BEIJING (Reuters) – Despite enticing smiles from attractive sales agents who beckon visitors to an exhibition for a new property launch, the cavernous hall in suburban Beijing remained virtually empty for hours at a stretch.

In contrast to the blistering summer heat outside, the languid sales campaign inside the air-conditioned hall reflects a chill that is spreading across China’s real estate market.

Jul 22, 2011

Analysis: China home prices teeter on a precipice

BEIJING (Reuters) – Despite enticing smiles from attractive sales agents who beckon visitors to an exhibition for a new property launch, the cavernous hall in suburban Beijing remained virtually empty for hours at a stretch.

In contrast to the blistering summer heat outside, the languid sales campaign inside the air-conditioned hall reflects a chill that is spreading across China’s real estate market.

Jul 19, 2011

China fuel stocks up as demand slows; record gas imports

BEIJING, July 19 (Reuters) – China’s refined oil product
stocks at the end of June increased nearly 1 million tonnes from
a year earlier and were at a normal level, after fuel
consumption slowed down since mid-April, a government report
showed on Tuesday.

Fuel consumption averaged 665,000 tonnes a day in the second
quarter, off a record daily rate of 701,000 tonnes in March, the
National Development and Reform Commission (NDRC) said in a
report on its website (www.ndrc.gov.cn).

Jun 14, 2011

Special report: Huntsman’s path to White House starts in China

BEIJING (Reuters) – Jon Huntsman is a savvy operator who knows how to work a crowd. But it was someone in a crowd who worked Huntsman on a bitterly cold Sunday last month when the U.S. envoy to China was seen at a small anti-government protest in Beijing.

“Mr. Ambassador, why are you here?” an unidentified Chinese man called out to Huntsman, who is thinking about running for the White House in 2012. “Just taking a look,” replied the silver-haired Huntsman in Chinese, wearing sunglasses and a brown leather jacket with an American flag patch sewn on the shoulder.

Jun 9, 2011

China May car sales down 0.1 pct, more decline ahead

BEIJING, June 9 (Reuters) – Car sales in China dipped
0.1 percent in May from a year earlier, marking the
first decline in more than two years amid a steep slowdown
in the world’s biggest auto market.

After two straight years of frantic expansion, car sales in
the country settled into a subdued growth pattern at the
beginning of 2011, with year-to-date sales up merely 6.1
percent, a fraction of a 63.6 percent jump in 2010.

Jun 8, 2011

SAIC May sales up 5.4 pct, slowest month this year

BEIJING, June 8 (Reuters) – Top Chinese automaker SAIC Motor
Corp said on Wednesday its vehicle sales in May
climbed 5.4 percent from a year earlier, the slowest monthly
gain so far this year amid a slowdown in the world’s largest
auto market.

SAIC, which operates auto ventures with General Motors
and Volkswagen AG , sold 304,423 vehicles last
month, up from 288,928 units a year earlier, it said in a stock
exchange filing.