Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
Mazda increases stake in China sales venture
Adjust font size:

Japan's Mazda Motor Corp. said Thursday it has spent 49.5 million yuan (7.2 million US dollars) to raise its stake in a joint venture sales company in China.

The deal allowed Japan's third-largest car maker to increase its share in FAW-Mazda Motor Sales Corp. to 40 percent from 25 percent. Mazda's investment increased the joint venture's registered capital from 100 million yuan to 125 million yuan, according to Friday's China Daily.

Analysts said an increased stake in the sales company will help Mazda become more profitable as it gears up expansion in China to offset slowing sales elsewhere due to the global recession.

The Japanese auto maker sold a company record of 37,217 units in the first quarter, an increase of 22 percent from a year earlier, fueled by government stimulus measures for small car purchases and more dealerships, according to Noriaki Yamada, president and chief operating officer of Mazda Motor (China) Co..

Mazda had 125 dealerships in China at the end of March. The figure is expected to reach 140 by year end.

Mazda also has a three-party venture with Chang'an Automobile Co and Ford Motor Co in China, producing Mazda 3 sedans and Mazda 2 compact cars.

(Xinhua News Agency May 1, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Comment
Pet Name
Anonymous
China Archives
Related >>
- Mazda to triple its sales in China

Apr. 11-12, Beijing The Fifth (2008) 'Gold Prize of Round table'of Chinese Boards of Listed Company
Apr. 17-19, Hainan The Boao Forum for Asia Annual Conference 20
Apr. 20-23, Beijing Green Transformation: Forcast New Business Culture
Apr. 27-28, Beijing China Institute Executive Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?