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China’s BAIC, Didi plan car leasing service amid new car sales slowdown

China’s BAIC, Didi plan car leasing service amid new car sales slowdown

BEIJING (Reuters) – Chinese automaker BAIC Group and ride-hailing service provider Didi Chuxing plan to team up with other industry players to lease BAIC’s cars to customers amid concerns about ride hailing and vehicle sharing eating into car sales. The companies, which have a joint venture to develop “next-generation connected-car systems”, will partner with electric [...]

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China’s Geely warns of virus headwind after 35% 2019 profit drop

China’s Geely warns of virus headwind after 35% 2019 profit drop

BEIJING (Reuters) – China’s Geely Automobile Holdings Ltd (0175.HK) said on Monday 2020 may be one of its toughest years yet, as pressure stemming from the coronavirus outbreak on production and sales persists. But it said it planned to go ahead with global expansion, despite lower sales and net profit for 2019, when the country’s [...]

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Coronavirus sees China’s Geely Automobile facing one of toughest years

Coronavirus sees China’s Geely Automobile facing one of toughest years

BEIJING (Reuters) – China’s Geely Automobile Holdings Ltd (0175.HK) said on Monday 2020 may be one of its toughest years yet, as pressure stemming from the coronavirus outbreak on production and sales persists. But it said it planned to go ahead with global expansion, despite lower sales and net profit for 2019, when the country’s [...]

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