China may encourage auto majors to buy rivals

The government may encourage its two largest automakers, Shanghai Automotive Industry Corp and China FAW Group Corp, to buy up rivals in order to revive the car industry. China hopes to whittle its 14 largest automakers down to 10 in order to transform state-owned firms into global players, creating two or three automakers with annual [...]

February 25th, 2009 | Posted in Autos | No Comments

Ford in talks with China Changan over Volvo sale

Ford is in discussions about selling off Volvo to Changan Automobile, its Chinese joint venture partner. According to state media, Xu Liuping, Changan’s president, participated in discussions with Ford and Volvo during an auto show last month in Guangzhou. No details of the talks were given, but an unidentified Changan executive was quoted as saying [...]

December 10th, 2008 | Posted in Autos | No Comments