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Warren Buffett buys new-car retail chain

Source: 
The Wall Street Journal Online

Warren Buffet wants to sell your car. The billionaire investor on Thursday agreed to buy America's fifth-largest auto retailer and use it to launch a consolidation of the highly fragmented business.

To view the full article (note: you must be a Wall Street Journal Online subscriber), visit The Wall Street Journal Online.

 

China fines Volkswagen affiliate USD40m for price-fixing

Source: 
The Malaysian Insider

An affiliate of German carmaker Volkswagen has been fined more than USD40.5 million for price-fixing in China, authorities said Thursday, the latest company to be punished under a sweeping anti-monopoly crackdown. FAW-Volkswagen Sales Company, Ltd., a partnership between the Frankfurt-based firm and Chinese auto maker FAW, has...

China’s auto sales decelerate but buying of SUVs rises 30pc

Source: 
Shanghai Daily

China’s auto sales growth decelerated further in August to 8.5 percent while sales of SUVs surged by nearly a third. Drivers in the world’s biggest auto market by vehicle sales bought 1.5 million passenger cars in August, the China Association of Automobile Manufacturers said on Thursday.

 

Maserati celebrates 10 years in China, adds more dealerships in first and second-tier cities

Source: 
Red Luxury

To celebrate its 10 year anniversary in China and 100th anniversary as a company, Maserati has planned a China-Italy Centennial Rally and expansion of its dealership network in China. Starting at the Imperial Ancestral Temple in Beijing, the 35-day 12,000 km journey that started last week will cross Russia, Belarus, Poland, Czech Republic, Germany, and Austria before ending in Maserati’s birthplace, Modena, Italy.

 

VW rides on strong China sales, luxury cars

Source: 
Shanghai Daily

VOLKSWAGEN, Europe’s biggest auto group,  posted on Thursday a robust quarterly net profit, thanks to growth in China and higher profits at its luxury car divisions Audi and Porsche.

 

Japanese look to gear up luxury play

Source: 
Business Standard

The launch of the Mercedes A Class and B Class and the BMW 1 Series had shaken the traditional market of luxury sedans dominated by Japanese car makers, as customers increasingly veered towards stylish, compact and sporty cars made by established luxury brands.

 

Purchasing spree spurs rise in China June car sales

Source: 
Shanghai Daily

Sales of passenger cars in China again grew by double digits in June, fanned by continued talk of tighter curbs on buying, and drove the market to a 15.2 percent jump in the first half of the year, the China Passenger Car Association said on Monday.

 

Tesla to sell more cars in China

Source: 
Shanghai Daily

Electric carmaker Tesla hopes to sell more cars in China, which it expects to become one of its largest markets in a few years, following the Shanghai city government’s decision to grant free license plates to buyers of its Model S vehicles. 

Japan tax hike takes toll on auto sales

Source: 
The Malaysian Insider

Japanese auto sales dropped 11.4 percent in April from a year ago, an industry group said today, highlighting the impact of a sales tax rise which sparked a mad dash to stores ahead of the levy hike. The drop marked the first fall in eight months, with sales of new cars, trucks and buses totalling 188,864 vehicles, the Japan Automobile Dealers Association said, although sales of thrifty mini-vehicles hit a record high.

New 125pc luxury car tax in Indonesia to deter sales

Source: 
cpp-luxury.com

Indonesia will increase the luxury tax on luxury cars to 125 percent from 75 percent starting this month, aiming to narrow its trade deficit by slowing imports and curbing spending by the wealthy, however the actual effects may be limited because it applies to only a slim fraction of the overall auto market.

 

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