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CHANGESHA, Hunan – BYD (01211.HK), China’s largest rechargeable battery maker and an ambitious automaker, sign an agreement on July 24 to take over Midea Coach Manufacturing Co., Ltd. at a price of ¥60 million ($8.8 million) from its owner Midea Group, one of the largest home appliances manufacturers in China, according to a company press [...]

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Reuters – Warren Buffett’s Berkshire Hathaway Inc has realized a $1.02 billion paper profit on a 10-month-old investment in BYD Co after shares in the Chinese car and battery maker quintupled. Berkshire’s MidAmerican Energy Holdings Co unit had agreed last September 26 to buy 225 million BYD shares at HK$8 each, a transaction then worth about [...]

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By Linda Luo and Wayne Xing In the first half of 2009, China’s auto sales rose 17.69 percent to hit the 6 million mark, posting record 6.10 million units, according to statistics released by China Association of Automobile Manufacturers (CAAM). That has made China replace the U.S. to become the world’s largest auto market in the [...]

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Speculations about the future adjustments of sales tax for automobiles are abound in the Chinese media especially with the recent publication of the State Council’s 2009 Work Arrangement for Energy Saving and Emission Reduction in early August. “Study and readjust automobile sales policy” is clearly stated under Item 7, Update Relevant Economic Policies, in the document. Local [...]

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David Cao
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FAW's new plant is under construction, officially will be put into operation no later than the end of 2010. FAW has released a report which mentioned that FAW Auto will introduce new independent brands, expansion project as well as the Pentium cars, the new models  for "red flag". Below is the new generation of Red Flag sedan.

new Red flag sedan

FAW Auto's 2008 annual report released in April 2009, Data from FAW Red Flag Motor Sales Co., Ltd. said "Red Flag" sedan remains weak, with sales accounting for only 1.19% of its total income.

Red Flag SUV

Red Flag SUV concept

FAW Red Flag sales drops dramatically, the reason is FAW Red Flag don't have its own model as a 60-year Automaker.

Its current models are just copy form Audi or Toyota, that ruined the potantial buyer's stomach. If Red Flag continues acting as a copycat, this brand will extinguish from Chinese buyer's mind in 3 years as quick as it declined 3 years ago.

More Articles …

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  4. Beijing-Hyundai moInca on sale

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