The number of vehicles in China would exceed 200 million in 2020, reported Monday's China Securities Journal, citing a government official.
This sharp increase in the number of cars in circulation may pose problems for the environment and energy security, said Sunday Fuchang Wang, Vice-Minister in the Ministry of Industry and Information Technology at an automotive conference.
The Chinese automotive market is one of the mainstays in the global automotive industry is still recovering from the slowdown experienced last year.
Sales have shown signs of slowing from the start of the second quarter but rebounded sharply in August, thanks to government subsidies for the purchase of clean vehicles.
Citigroup reported Friday a net profit of 2.7 billion dollars for the second quarter, down 37% year on year, due to lower revenue in the banking business.
Per diluted share, net income stood at 9 cents.
In the second quarter of 2009, net income was set at 4.28 billion dollars or 49 cents per share.
Analysts on average expected a profit of 5 cents per share excluding exceptional items for the second quarter, according to Reuters Estimates.It is not known if the EPS of 9 cents can be compared to the consensus of 5 cents.
The bank, which the U.S. government is a shareholder, said its credit losses are down for the fourth consecutive quarter.
In pre-market value fell by 2.2% to 4.07 dollars.
The European Commission approves acquisition of Volvo by Ford Motor by Chinese carmaker Geely Holding Group and the group of public investment Daqing.
The European Commission said in a statement that after investigation the transaction does not have significant problems of competition.
Registrations of new cars in France fell 1.2% in June on a year to $ 240,587, announced the Committee of French Automobile (CCFA).
The month of June were 22 working days, against 21 last year.A comparable number of working days, the decline in sales stood at 5.7%.
Of the first six months of 2010, registrations in France stand up 5.4% on a reported basis, to 1,212,492 units, and 3.7% in comparable number of working days from the same period of 2009.
Sales of French brands fell 7.9% in June, while those of foreign brands rose 7.8%.
Sales of passenger cars by PSA Peugeot Citroen fell 5.6% in June, while those of Renault were down 1.0%.
Registrations only Dacia (Logan, Sandero and Duster) almost doubled (95.8%), while those of Renault fell 11.1%.
Sales of the Citroën show a decline of 7.3% and Peugeot were down 4.1%.
M6 posting a 2.1% increase in advertising revenue of the chain in the first quarter for an increase of about 10% in March, the trend has continued into April.
The television group saw its total consolidated turnover increased by 10.3% over the period, to 361.1 million euros thanks to a jump of 16.7% of non-advertising revenues, which for the first time, represent more than half the total.
The action takes 0.66% to 19.82 euros at midday, the published figures that exceeded analysts' expectations, and the pan-European media index falls by the same magnitude.
The increase in advertising revenue channel in the first quarter, despite declines in January and February, following a 1.5% increase in fourth quarter 2009, the first in a year and a half.
The chief executive Nicolas de Tavernost, told Reuters after the meeting of the group's advertising revenues had increased M6 of "approximately 10% in March.
"The pace is good in April. This is not very different," he said, noting that the visibility was still low.
RESUMPTION OF ADVERTISING MARKET
TF1 will publish its figures for its part May 11In mid-April, its chief financial officer had indicated that TF1 should have recorded a double digit growth in advertising revenue in the chain in the first quarter. He had reported a continued recovery of the market and favorable comparisons.
In the first quarter of 2009, TF1 had indeed suffered a fall of 27% of its advertising revenue, while M6 had limited its decline to 11%.
ZenithOptimedia (Publicis Group) reduced to 1% in April (against 1.5% previously) its growth forecast for the TV advertising market in France in 2010, after a decline of 10.3% in 2009.
M6, which shows a net cash of 553.2 million euros at end-March, has sold its stake in February from 5.1% in Canal + France to Vivendi for 384.2 million euros.It distributes about half of its shareholders in the form of a dividend of 1.50 euro per share, bringing the total to 2.35 euros.
Nicolas de Tavernost confirmed to shareholders that the group had slightly increase the cost of grid M6 in 2010 was 303.5 million euros in 2009.
He told reporters that his group would invest between 50 and 100 million euros in the general entertainment channel which will occupy the channel "bonus" which M6 – as TF1 and Canal + – will be entitled to termination of the distribution of television Analog scheduled November 30, 2011.
Nicolas de Tavernost said this estimate, which depend on the volume loss of the chain and the market, accounted for all the losses accumulated prior to becoming a recipient – which took three years to W9.
The pattern of M6 has reaffirmed its interest in a TNT channel in addition to W9, while TF1 completes acquisition of TMC and NT1 Groupe AB for 192 million euros.
But it Bolloré Lagardère announced in March the sale of Virgin 17 for 70 million euros.