Asia, Automaker | featured news

Several of India's car makers reported a drop or a modest increase in sales for December, despite year-end discounts and the recent introduction of new models.

German carmaker Volkswagen AG says sales rose 11.9 percent in July as demand in Asia and the United States outweighed slacker sales in crisis-hit western Europe.

Toyota has surged back from a downturn following the natural disasters in Japan last year and is expecting to sell 23 percent more vehicles than it did in 2011.

Chinese government to force unprofitable automakers into involuntary bankruptcy... The Ministry said in a note published on Tuesday that it is considering the introduction of a withdrawal mechanism to force near-bankrupt automakers out of the bloated automotive industry. China has around 1,300 automobile makers, including 171 car, truck and bus makers and more than 900 specialty vehicle manufacturers, according to the government.

Chinese motor-vehicle dealer China Yongda Automobiles Services Holdings plans to raise up to $433 million in an initial public offering ahead of its listing in Hong Kong on May 30, people familiar with the situation said.

Despite an unexpected slowdown in sales earlier this year, the Chinese auto market is expected to hit an industry-record 20 million vehicles this year – prompting manufacturers to announce billions of dollars in new factory investments designed to keep up with booming demand.

China will impose punitive duties of up to 22 percent on large cars and SUVs exported from the United States, China's Commerce Ministry said on Wednesday, the latest in a series of trade disputes between the world's two largest economies.

Car companies say a sales slowdown in China will likely make competition there more cutthroat as more makers pile into the top auto marketplace.

Toyota over the weekend broke ground for a technical center near Shanghai that will prepare for shifting production to China of tightly guarded technology used in its hybrids and other alternative-energy vehicles—but not its latest technology.

Ford Motor Co plans to build a $900 million production plant in India, doubling its investment in the country, as the U.S. carmaker seeks to catch up with rivals in the second-fastest growing auto market in the world.