The maker of Chairman Mao’s Red Flag limousine is finding it tough to compete as Chinese buyers increasingly desert sedans for SUVs. FAW Car Co., a publicly traded unit of state-owned China FAW Group, will post a loss of as much as 850 million yuan ($127 million) for the first six months after turning a profit of 168.8 million yuan in the year-earlier period.
Bloomberg News article here
Keywords
Asian operators China operators client markets Fleet Vehicles Global operators sedans SUV
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