China’s Automakers Go Bargain Shopping For Global Brands
Chinese car maker Beijing Automotive Industry Holding Corp (BAIC) said it was reassessing the situation after a consortium it belonged to dropped a bid to buy General Motors’ Saab unit.
China’s relatively cash-rich automakers have shown an increasing interest in overseas purchases, looking to pick up global brands and technology at bargain prices as the world’s auto industry undergoes a major retrenchment.
Check out the TIMELINE that traces some of their proposed, failed or ongoing deals reported this year as the Chinese chased Volvo, Opel, Saab and Hummer.
