DealBook: Black Cabs of London Get a Bailout From China
The Zhejiang Geely Holding Group said that it had agreed to pay $17 million for the assets of Manganese Bronze, whose London Taxi Company unit produces black taxis.
2014 Buick LaCrosse Spied In China
Previous generations of the Lexus ES have been pegged by some as a modern-day Buick of sorts. Quiet, dependable and luxurious, without a whole lot of flash. This was always Buick’s positioning in relation to Cadillac. In recent years, General Motors has adopted a similar positioning once again.
Buick has gone after Lexus with a quieter styling approach, while Cadillac is aimed at Audi, BMW and Mercedes-Benz. The first competitive Buick in years came when the Enclave arrived in 2008. The LaCrosse…
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Auction for A123 Systems Won by Wanxiang Group of China
The sale of A123, a battery maker, to Wanxiang Group, a Chinese auto parts maker, is the latest acquisition of an American energy and manufacturing company by a Chinese firm.
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Will China-made Cadillac XTS Change Caddy’s China Fortunes?
A China-made Cadillac XTS was announced and expected for “this fall, just months after the car’s North American launch.” It has not appeared yet. But they are working on it hard, as the picture by Carnewschina attests.
The car was caught on a highway near Shanghai, being shuttled between the many locations GM has in and around the city.
According to Carnewschina, “the China-made Cadillac XTS will debut on the April 2013 Shanghai Auto Show, it will be launched on the Chinese car market in the…
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Ma Qinghua to race HRT in China next year – agent
Nov.15 (GMM) Ma Qinghua will “definitely” be on the grid in Shanghai next year, the Chinese driver’s agent said on Thursday.Ma, HRT’s test and sometimes Friday practice driver in 2012, told the Fujian newspaper Southeastern Express that reports the Spanish team is for sale do not worry him.The 24-year-old has been tipped as a potential teammate for Pedro de la Rosa in 2013, but Spanish media reports say there is a risk HRT will fold.Ma’s agent, Jin Yong, said: “No matter who the boss is, Ma will definite…
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Sergio Marchionne and Obama’s Campaign Rebuke Romney’s Jeep to China Accusations
The battle for the 2012 U.S. elections has spilled over the automobile industry after Republican presidential candidate Mitt Romney told an Ohio crowd last week that Jeep is planning to move all of its production to China, while also airing an ad that says Obama "sold Chrysler to Italians who are going to build Jeeps in China. Mitt Romney will fight for every American job." The problem is that the Chrysler Group is not considering to relocate production from the U.S. to China, but instead is w…
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Honda: China Troubles Will Cost Us $1 Billion
The boycott of Japanese goods in China, triggered by a dispute over uninhabited islands in the East China Sea, hit Japanese automakers where it hurts most: In the pocket-book. Honda cut its profit forecast for the fiscal year to March to 375 billion yen ($4.7 billion) from its earlier estimate of 470 billion yen ($5.9 billion), Reuters says.
In September, China sales of Toyota dropped 48.9 percent, those of Honda -40.5 percent, and those of Nissan 35.3 percent. Today, Honda revised down it sales f…
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Report: BMW Redirects Tens of Thousands of Euro-Market Cars to the U.S., China
The dire financial situation in Europe has led BMW to shift “tens of thousands” of cars originally intended for European consumption to other markets like the U.S. and Asia, Bloomberg reports. The European auto industry is about to see its biggest annual sales drop in 19 years. With 3 Series sales strong in the U.S. [...]
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China Troubles Cause Toyota Cutbacks
Toyota may be cutting back its global group production by 200,000 units in the 2012 calendar year, writes Reuters, as a reaction to sharply reduced sales in China after the island row. Toyota’s China sales were down 49 percent in September.
The story is based on a report in the Mid-Japan Economist newspaper, which is published near Toyota’s Aichi HQ. The paper confirms what TTAC had said for months, namely that Toyota wanted to produce slightly more than 10 million cars this year. If the report is r…
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Ford posts record China sales amid Beijing-Tokyo dispute
As a territorial dispute rages between China and Japan, Ford has enjoyed some unexpected benefits.