Mazda to double China auto output in 2003
TOKYO, Nov 24 (Reuters) - Mazda Motor Corp <7261.T>, Japan's fifth-largest automaker, will double its annual output of cars in China to 45,000 in 2003, the Nihon Keizai Shimbun (Nikkei) reported on Sunday.
The company, which is one-third owned by the Ford Motor Co <F.N>, also plans to increase the number of Mazda-only sales outlets in China to 100 from 42 over the same period, the Nikkei said.
Mazda officials could not immediately be reached for comment.
Foreign automakers are rushing into China's fast-growing automobile industry, which is expected to pump out more than one million cars for the first time this year, up from 703,500 last year.
Mazda said on November 12 it posted a 31 percent rise in group operating profit to 14.68 billion yen for the six months in September thanks to cost cuts, tax benefits and a weaker yen.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.
My next Ford.....