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Besturn does China's FAW Car a good turn


The pace of sales in the Chinese automobile market slowed in the first half of 2008, but the listed unit of China's second-largest carmaker, First Automobile Works Group, performed strongly, on the enthusiastic reception for its midsized sedans as well as diligent cost-cutting efforts.

Amid consumer concerns about high fuel prices and inflation, growth in car sales moderated to 17% in the first half of this year, versus the comparable period last year, the China Association of Automobile Manufacturers said on Wednesday. In the first half of 2007, auto sales grew 22%, year on year, over 2006. But FAW Car Co., based in Changchun, in the northeastern province of Jilin, and listed on the Shenzhen stock exchange, expects to post first-half profit growth of 200% to 250%.
http://www.gasgoo.com/auto-news/7043/Besturn-does-China-s-FAW-Car-a-good-turn.html
 
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