Vehicle sales in China lost steam in February following a strong January, but they continue to perform better than the same period last year.
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.
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. In China, however, it's an also-ran. Lexus sold just a fifth of luxury leader Audi AG's tally last year in the world's biggest car market.
SAIC Motor Corp Ltd expects its 2011 vehicle sales to rise by about 12 percent from 2010 as the Chinese auto industry is expected to grow at a markedly slower pace this year after years of explosive growth.
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.
Gree Electric Appliances, China's largest maker of home air-conditioners, reported Thursday its 2010 net profit soared 46.76 percent year on year.
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.
China's Geely Automobile Holdings Ltd said on Wednesday that net profit fell 4 percent in the second half of 2010 despite record six-month sales volume.
The South Korean tire maker Kumho Tire Co Ltd promised to recall all its faulty products and formally apologized to Chinese consumers on Monday.
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.
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.
The price of natural rubber in China is driving an increase in tire prices, International Finance News reported Monday.
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