China Auto Trending Hashtag| BAIC seeks to buy 5% Daimler stake
From：Internet Info Agency
2019-05-13 17:28:41
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It is reported that BAIC wants to acquire a 4-5% stake in Daimler to ensure the stability of its investment in Beijing Benz. According to Daimler’s closing price of 65 billion dollars last Friday, the acquisition of 5% of the shares will cost about 3.4 billion dollars. It is not clear whether BAIC GROUP could raise enough funds. As far, the two companies have not commented.
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In April, the retail sales of passenger cars reached 1.508 million units, a year-on-year increase of -16.9%, which was slightly lower than the cumulative year-on-year growth rate of -10.4% in January-March this year, still slightly better than the -19.0% at the end of 2018. However, the retail sales of passenger cars increased by -13.8% in April, which is the biggest decline in the recent April. From January to April, the cumulative sales volume reached 6.595 million units, a year-on-year decrease of 11.9%.
Editor：Internet Info Agency
