Chinese auto firms land in Detroit

The New York Times reports that Chinese auto firms are setting up shop in Detroit.

Read: Auto industry on track for solid growth

“While starting with batteries and auto parts, the spread of Chinese business is expected to result eventually in the sale of Chinese cars in the United States,” the report notes, adding the firms are staying under the radar “to avoid the type of public opposition experienced by the Japanese automakers Toyota and Honda in the 1980s, when the sudden influx of foreign cars competing head-on with cars from General Motors, Ford and Chrysler was perceived as a threat to American jobs.”

Read more here.

Also read:

Auto dealers need succession advice

Resource-rich provinces to drive auto growth

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.