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Stock Market & Financial Investment News

News Breaks
August 18, 2014
06:12 EDTBITABitAuto announces JV with Yong Da Group, UXIN
Bitauto Holdings announced that it has entered into an agreement to establish a joint venture, or JV, company, with China Yong Da Automobiles Services Holdings, one of China's leading automotive dealership groups, and Youxinpai Information Technology, or UXIN, a professional electronic auction service provider for used cars in China. By partnering with Yong Da Group and UXIN, Bitauto's proprietary used car website, taoche.com, will benefit from an expanded inventory of available-for-sale used cars. China's used car market has huge, long-term growth potential yet remains under-served. The joint venture will ultimately help better serve the market by ensuring greater numbers of car buyers across China, have easy access to authentic, transparent and comprehensive used cars information.
News For BITA From The Last 14 Days
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September 12, 2014
17:32 EDTBITATiger Global reports 14.9% passive stake in Bitauto
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September 10, 2014
09:17 EDTBITAChina mulls easing car dealer restrictions, Bloomberg says
China's Ministry of Commerce is considering whether to ease rules on car dealers and allow them to sell vehicles from multiple brands in the same store, according to Bloomberg, citing people familiar with the matter. Note that both Bitauto (BITA) and Autohome (ATHM), which operate automobile buyer focused websites in China, were down significantly during yesterday's trading, though it is unclear if the reported new regulations play a role in their share weakness. Publicly traded carmakers include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
05:43 EDTBITABitauto states policy not to comment on unusual market activity
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