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Investing

Chinese Officials Must Now Buy Chinese-Made Cars (TM, GM, F)

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By Paul Ausick Published
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The Chinese government over the weekend issued a rule requiring government officials to buy only Chinese-branded cars. The rule is intended to help support the country’s automakers who have seen sales fall from the heights of two and three years ago.

According to The Wall Street Journal report, the impact on foreign car sales in China is likely to be minimal because government auto purchases account for a “small part” of auto sales in the country. Automakers like Toyota Motor Corp. (NYSE: TM), General Motors Co. (NYSE: GM), and Ford Motor Co. (NYSE: F) are unlikely to feel much effect from the new rules. A statement from Volkswagen AG sums up the situation well:

The majority of the Volkswagen Group China’s sales are conducted with private costumers. The amount of the so-called fleet sales with government vehicles has been at a lower single-digit percentage range for years.

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. ("EnergyX") has engaged 24/7 Wall St to publish this communication in connection with EnergyX's ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX's offering materials. EnergyX's Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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