China Electric Motor Inc, which makes parts for household appliances, autos and consumer devices, said Friday that its second-quarter profit nearly doubled.
Germany's luxury carmaker BMW expects its China car sales to rise more than 30 percent this year, boosted by the country's robust economic growth, its China chief said on Thursday.
Honda Motor Co increased sales in China by 12 percent in July to 56,688 vehicles from a year earlier, Chief Financial Officer Yoichi Hojo said.
Domestic automakers are poised to post strong earnings for the first half of the year, according to preliminary statements submitted to the Shanghai Stock Exchange.
China's annual production and sales of new autos will both surpass 15 million vehicles this year, Dong Yang, secretary-general of the China Association of Automobile Manufactures, said Wednesday.
BYD Co, the Chinese automaker backed by Warren Buffett, cut its annual sales target for 2010 by 25 percent as growth slows in the world's biggest auto market.
The completion of Geely's buyout of the Volvo car brand from Ford Motor Co Monday is certainly a time to rejoice considering that this may be regarded as a pivotal moment in the global car industry's center of gravity shifting from the West to China.
China may invest more than 100 billion yuan ($15 billion) in alternative-energy vehicles during the next 10 years to boost the industry, the Shanghai Securities News said.
Ford Motor Co on Tuesday reported its China sales for July that represented a fall from last year, the first major automaker to suffer a decline on China market.
General Motors Co boosted sales in China 22 percent in July, aided by the popularity of Chevrolet cars, while deliveries by Ford Motor Co's local sales unit fell.
Chinese auto parts makers are moving into the overseas merger and acquisition (M&A) fast lane, eyeing a distressed global market to close a technology gap with world leaders to meet sizzling demand at home and eventually sell overseas.
The brand journey of Geely and Volvo.
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