Car Sales and Domestic Producer Market Share Both Rise

Chinese cars producers attained a 27 per cent domestic market share in the first nine months of 2007, according to state media. The China Association of Automobile Manufacturers said that 73 per cent of the sale were made by the top ten Chinese companies. A total of 4.58 million passenger cars were sold from January to September, up 23 per cent year on year. At the same time, First Automotive Works, one of China’s largest automobile producers, reported a net profit of RMB358 million for the Q3 of 2007, up 56.7 per cent year on year. 

GM Seeks to Fight Back Against Domestic Car Producers
General Motor's will attempt to halt the market share gains – and aim to take a lead in the production of energy-efficient cars – being made by China’s ambitious domestic car manufacturers by building a USD250 million research hub and energy centre, Chairman and CEO Rick Wagoner announced in Shanghai this week. The so-called Centre for Advanced Science and Research will be built "to accelerate research in the areas of energy-efficient and environmentally friendly automotive technologies, as well as alternative fuel pathways that are socially responsible, economically viable, environmentally sustainable, and technologically feasible," said Wagoner.

Last update : Friday, 02 November 2007

Keywords : News Bites, Car Sales and Domestic Producer Market Share Both Rise, GM Seeks to Fight Back Against Domestic Car Producers

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