Chinese carmaker BYD Co. may be getting some bad news as it prepares to start selling in the U.S. next year. A planned reduction in government subsidies and a phase-out of interest-rate controls threaten to raise costs for it and thousands of companies across China.
China’s stocks rose for a sixth day, the longest stretch of gains in four months, after automakers rallied on improving earnings and Shenyin & Wanguo Securities Co. recommended power producers on valuations.
Toyota Motor Corp. and Nissan Motor Co.’s efforts to make up production lost after Japan’s March 11 earthquake will benefit local shipping lines suffering from lower rates for hauling commodities and containers.
Japanese trading houses including Marubeni Corp. are expected to report record profits during the 2012 Japanese financial year because of strong prices for natural resources, Macquarie Group Ltd. said.
BYD Co., the Chinese electric carmaker partly owned by Warren Buffett’s Berkshire Hathaway Inc., rose the most in two months in Hong Kong as Shenzhen City said it is considering incentives to promote electric vehicles.
Audi AG gave China’s chauffeur- driven bureaucrats and businessmen the legroom they wanted by stretching its flagship sedans. Now the German automaker is betting there’s also demand for small luxury cars.
Wang Jiangwei recalls spending last summer sweating through a month of military drills conducted by Chinese People’s Liberation Army instructors. Wang isn’t a soldier; he’s a researcher at Great Wall Motor Co.
Three years ago, China passed the U.S. as the world’s biggest car market. By 2015, it will likely exceed the U.S., Japan and Germany combined -- and that takes into account the current economic slowdown.