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MARKET PROTECTION * China
* Chinese car and truck makers surge after foreign vehicles removed from official purchasing list
Beijing,China -Bloomberg/The Detroit News (USA) -February 27, 2012: -- Chinese automaker shares rose, led by Dongfeng Automobile Co. and FAW Car Co., after the government excluded foreign brands from a preliminary list for official- vehicle purchases... Dongfeng Automobile jumped 10 percent, in Shanghai. FAW gained 4.9 percent, in Shenzhen. Great Wall Motor Co. rose 3.6 percent, in Shanghai... All 412 models approved for purchase by state agencies this year will be limited to Chinese brands, according to the Ministry of Industry and Information Technology. The move will help local brands gain in the government fleet's 80 billion yuan ($12.7 billion) market at the expense of foreign carmakers such as Volkswagen AG, General Motors Co. and Toyota Motor Corp., China International Capital Corp. said in a report today...
Labels: trucks markets worldwide
posted by Unknown @ 6:24 AM
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