Hong Kong-listed Geely Automobile of China said Friday it had decided not to proceed with the proposed subscription for 20 million new ordinary shares of UK cab firm Manganese Bronze Holdings.
Jin is among a rising group in China who are using the Internet to buy cars, either through websites such as cheshi.com or direct from manufacturers.
Automobile sales rose at their slowest pace in 16 months in July as the world's largest auto market cooled after an explosive growth in 2009.
Chinese carmaker Jianghuai Automobile Co said on Tuesday it plans to invest about 30 billion yuan ($4.4 billion) on production of clean-technology vehicles through a partnership with Yang Rong, a Chinese automobile tycoon who fled the country after being accused of economic crimes.
China's sales of passenger cars to dealerships increased last month at the slowest pace since March 2009, according to the China Association of Automobile Manufacturers.
Manufacturers' sales of domestically-made autos slowed in China in July as inventory levels rebounded, the China Association of Automobile Manufacturers (CAAM) said here Monday.
Top Chinese automaker SAIC Motor Corp sold 24.6 percent more vehicles in July than a year earlier, its slowest gain any month this year as the world's largest auto market cools down after a roaring 2009.
The biggest recreational vehicle (RV) and camping rally in China took place in Beijing's Fangshan district over the weekend, attracting more than 100 RVs and their owners.
German automaker Volkswagen Group will expand its import portfolio to meet the increasingly diverse demands of Chinese consumers, said a senior manager in its China operations recently.
Sino-German car joint venture Shanghai Volkswagen Automobile Co Ltd retained its crown as the biggest passenger car provider in China last month with strong sales growth despite a fiery traffic accident that took the life of its president on July 17.
He had no experience in the rubber industry before he set foot into it in 2007. However, he has become one of the most passionate and successful executives in China's tire industry and has built a unique image and company culture for the business.
Beijing Automotive Industry Holding Corp (BAIC), Daimler AG and Hyundai Motor's partner in China, recently announced plans to expand its presence at the opposite end of the market - by producing and selling more minivans.
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