Sometimes building the dream involves a little un-building and renovation. Such is the case with China's BYD (an acronym for Build Your Dreams) that, two years ago, made Warren Buffet a billion dollars in profit and made its chairman Wang Chuanfu the richest man in China, but by the end of last year was freefalling into dismal sales, following that up this year with dismal revelations and an even more dismal IPO.
If there's been a single reason for hope among auto executives during the past few lean years, it's been spelled C-H-I-N-A. Despite being a difficult regulatory environment with many hoops for automakers to jump through, the People's Republic has shone as the industry's brightest and biggest hope for big volumes and bigger profits. Certainly, the nation has delivered massive sales increases as it has developed into a global superpower, and its population and growing wealth suggests it should be
Korean automaker Ssangyong has reportedly restarted five of its production lines at its plants in Pyeongtaek and Changwon. Earlier this month, Ssangyong was forced to enter receivership as a last ditch effort to stave off bankruptcy after failing to negotiate a deal with Shanghai Automotive Industry Corp., the Korean automaker's Chinese owners, and Korea Development Bank, its largest creditor.
According to UK-based media service Headline Auto, one of the hot rumors flying around the Auto Messe in Frankfurt earlier this morning was that China Automobile, the German importer for Chinese automaker Shuanghuan, was going to get booted out of the exhibit hall. The controversy stems from some bad blood brewing between Shuanghuan and the mainstream manufacturers whose designs it blatantly, unashamedly copies. On display in Frankfurt are the Shuanghuan UFO and CEO SUVs. UFO is a Toyota RAV4 cl
The United States may be a little wary of China's Geely Automobile Holdings, Ltd., but folks in China are all over the automaker, pushing sales March sales up 36.2 percent over last year, with sales of 16,788 units. The manufacturer isn't doing too badly this quarter, either -- Geely dealers pushed a whopping 48,438 units off their lots, a 66.9 percent year-over-year increase.
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