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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: Freedom Fighter who wrote (1497)	3/29/1999 8:31:00 PM
From: porcupine --''''>	Read Replies (2) of 1722

China will allow officials to buy bigger cars in a policy shift which should benefit GENERAL MOTORS CORPS' Buick, the China Daily newspaper said. It said the government had raised the engine capacity of cars which could be bought for official use from 2.3 litres to 3.0-litres in a move indicating a retreat from a cost-cutting policy aimed at eliminating free cars for officials. The easing of restrictions would benefit sales of Buicks built by Shanghai-General Motors, a GM joint venture, the newspaper quoted an analyst at the China National Automotive Industry Consulting and Development Co. as saying. It said Shanghai-GM's Buicks had an engine capacity of 2.98- litres and cost between 340,000 yuan ($41,062) and 400,000 yuan. The company plans to produce 50,000 Buicks in 2000 and 100,000 in 2001, the newspaper said. (Reuters 11:23 PM ET 03/15/99)

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