Diabytes
China car sales News
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Stellantis is ending its alliance with Guangzhou Automobile Group
The alliance was for 12 years
China is one of the major car markets in the world
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A total of 1.58 million vehicles were sold in the country last month, down from 1.59 million in February 2015, figures provided by the China Association of Automobile Manufacturers (CAAM) showed.
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To prop up the auto industry, the government cut purchase taxes by half on cars with small engines from October 1.
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The Shanghai-based firm said net profit was 27.97 billion yuan ($4.56 billion), up from 24.80 billion yuan in 2013, according to a statement issued to the Shanghai stock exchange late Thursday.
Daimler AG will give its new luxury baby, the Mercedes-Maybach limousine, a glitzy world debut at this week`s Guangzhou autoshow, even as analysts warn the end is nigh for China`s 10-year high-end car sales boom.
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