Monday, November 19, 2007
A major Chinese partner of Honda Motor, Guangzhou Automobile Industry Group will spend around 6.8 Billion Yuan to launch its own brand of cars. The company is planning to build a development centre and research plant with a total land area of 1.5 million square meters, to bring its own brand named Sedan by 2010. A grand ceremony took place at the city of Panyu with more than 400 guests with a partnership with Toyota. An official from Shanghai Securities News, quoted that Guangzhou Automobile's chairman Zhang Fangyou said that his company is highly profitable; and would consider using bonds, loans or a stock listing to assist finance for the project.
posted bykanth
@ 3:52 AM
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Wednesday, November 14, 2007
The Automobile Industry had an outstanding business during Diwali season, automobiles worth RS 200 crore was sold in the state of Chhattisgarh. The automobile traders' clamed that the market had a growth of 25 percent compared to last year. Out of these sales, the Raipur market shared half of the sales. Sources said that, nearly 2800 bikes and 700 four wheelers were sold. A businessman from the automobile industry said that; today people have gained lot of capital after the boom in share market and they wanted to invest it, so many preferred to buy automobiles this year.
posted bykanth
@ 1:38 AM
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