Results for car news: 737

Shanghai, During Jan. - Nov. 2008, China's auto industry maintained growth but the growth rate dropped from one year earlier, with accumulated profit reaching 130.955 billion yuan ($19.173 billion) and the growth rate declining by 54.14%, xinhuanet.com said, citing data released by the China Association of Automobile Manufactures(CAAM).

Shanghai, A senior state official said China is quite possible to overtake the United States as the World No.1 car market for all of 2009, but he also warned against over-optimism, according to a newspaper report on Monday.

Shanghai, February 9 (Gasgoo.com) Danish Biofuel enzyme producer Novozymes has recently signed a deal with oil refinery Sinopec and China National Cereals, Oil & Foodstuff Corp (COFCO) to develop second-generation bio-ethanol in China from agricultural waste, said sina.com today.

Shanghai, February 9 (Gasgoo.com) Chongqing Changan Automobile Co, Ford's passenger car joint venture in China, said in a statement on Monday that its January sales fell 26.7 percent to 88,971 vehicles from 93,710 a year earlier.

Shanghai, February 9 (Gasgoo.com) Data from local customs authorities show that Shandong province of east China exported $1.88 billion worth of auto parts in 2008, up 20.5% from a year earlier. But the growth rate slowed by 23% from the 2007, with the December export value down 16.1% to $130 million.

NISSAN Motor Co, Japan's third-largest vehicle maker, said that it will slash 20,000 jobs and post its first loss in nine years as the global recession cripples car demand and the stronger yen ravages overseas earnings.

ALTHOUGH China's used car sales increased by a slower 3 percent last year over 2007, they are set to accelerate more than 3 times to 9 million units by 2012 and to grow more rapidly after that, industry observers said.

According to a recent joint statement of the Ministry of Finance and the Ministry of Science and Technology, the central government will offer a one-off subsidy for buying hybrid, electric and fuel-cell vehicles. The subsidy will vary with the difference between the prices of new-energy vehicles and those powered by traditional fuel.

GENERAL Motors Corp executives, advisers, bond holders and union officials plan to meet this week in Detroit to negotiate the government-ordered debt restructuring of the auto maker, two people close to the talks said.

NISSAN Motor Co is alone among Japan's car makers in seeking a US federal loan under a program to develop fuel-efficient vehicles, vying for funds with GeneralMotors Corp, Ford Motor Co and battery-car start-up Tesla Motors Inc.