China Automotive Systems Q2 net sales drop

China Automotive Systems (CAAS), a power steering components and systems supplier in China, has reported a net sales of $82.5m for the second quarter ended 30 June 2011, compared to $85.1m for the same period in 2010.

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Lentuo to acquire two new dealerships in China

Lentuo International (LAS), an automobile retailer in Beijing, has signed a letter of intent (LOI) to acquire Huizhou FAW-Volkswagen Sales and Service (Huizhou FAW-VW) and an equity transfer agreement to acquire Beijing Hexinshuntong Automobile Sales and Service (Beijing Mazda).

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