BRIEF: Guangzhou Auto’s sales, output plunge in October
Guangzhou Automobile Group Co. Ltd. (2238.HK; 601238.SH) said on Thursday it sold 185,800 vehicles in October, down 17.23% year-on-year, with sedan sales plummeting 23.65%. Its production volume for the month…
Cango builds up global capabilities in search of new direction
The car trader’s export-oriented AutoCango.com site is rapidly building up traffic, logging 370,000 page views since its launch in March Key Takeaways: Cango is aggressively building up a customer base…
Chery raises profile on zooming exports
China’s largest car exporter is reportedly eying a Hong Kong IPO, hoping to tempt investors with its strong growth over the last two years Key Takeaways: Chery sold 1.75 million…
Uxin finds new friend on difficult road to profitability
The used car superstore operator will receive $15 million in new funding from shared ride company Dida, equal to more than four times its cash reserves at the end of…
INDUSTRY BRIEF: China’s car sales fall in August as NEVs outpower gas vehicles
Chinese car sales fell 1.1% in August to 1.92 million units, marking a fifth straight month of declines, Reuters reported on Monday, citing new data from China Passenger Car Association…
Cango jumps on China car export bandwagon with focus on used vehicles
The car trader’s export-focused Autocango.com site, which launched in March, had more than 20,000 registered users in 207 countries and regions at the end of August Key Takeaways: Cango’s used…
Cango reduces risks at home, looks overseas for new opportunities
The car-trading company’s revenue plunged in the first quarter as it put the brakes on its self-operated business and launched a new cross-border platform Key Takeaways: Cango’s revenue has fallen…