China fines Japanese car parts firms for price-fixing

China has levied a record fine totalling 1.24bn yuan ($202m; £121m) on twelve Japanese car parts companies for price-fixing. The country’s anti-monopoly regulator said the companies were found to have colluded to reduce competition. Japan’s Sumitomo Electric and Mitsubishi Electric were among the firms that received the heaviest fines. The ruling comes amid a crackdown […]

Strong truck demand in March drove U.S. auto sales to their highest monthly total.

DETROIT (AP) — America is getting back to work, and it needs pickup trucks. Strong truck demand in March drove U.S. auto sales to their highest monthly total since August 2007, as everyone from oil and gas producers to local home builders raced to replace the aging trucks they held onto during the recession. Overall […]

China auto sales accelerate in December

BEIJING (AP) — China’s auto sales rose 7.1 percent in 2012 after growth accelerated in December as an economic recovery began to gain traction, an industry group reported Friday. Sales in the world’s biggest market by number of vehicles sold totaled 15.5 million units, the China Association of Auto Manufacturers said. December sales rose 6.9 […]