at benefit

ss in developing green cars has won support from Warren Buffett. MidAmerican Energy Holdings Co, a unit of Buffett's Berkshir▓e Hathaway Inc, bought a 9.9 percent stake in BYD for HK$1.8 billi▓on last September amid the financial crisis in the United▓ States.Industry observers have called upon the Chinese government to incr▓ease support to green car development."China should learn from the

s the most

US experience that we should pay more attention to energy efficiency when developing our own automobile industry," ▓said Hui Yumei, an analyst with automobile market research company Sinotrust.Escalating competition and the specter of deflation a

re threatening to cut deeply into th▓e profit margins of Chinese automakers, particularly those that specialize in small cars that retail at low prices.Total industry sales this year is widely expected to exceed that of the year before, thanks to the government stimulus program. Sales are also be▓ing driven by the need to quickly offload cars rolling out of production lin▓es that were vastly expanded in previous boom years.However, for those automakers th▓at expect sales to fall this year, deep financial troubles a

from Obam

re in the offing, analysts w▓arned.China, which overtook the US as the world's biggest auto market in January, saw its ve▓hicle sales grow 3.88 percent in the first quarter to 2.68 million units, as the government's stim▓ulus policy for the automobi

a's emis

le sector took effect. This is in stark contrast with other majo▓r global auto markets such as the US, which suffered a 38 percent slump in vehicle sales.Automobile sales soared 34 percent from a month earlier in M▓arch, hitting 1.1 million units.

In terms of year-on-year growth, it registered a 5 percent growth, according to industry group, China Association of Automobile Manufacturers (CAAM)."The vehicle output and sales number in March were much beyond our ▓expectations," said Zhang Xin, an auto industry analyst with Guotai Jun'an Securities.But behind such a rosy scenario, the overall industry profit was falli▓ng as the profit margins of small car models, which ▓was the chief contributor to robust vehicle sales in March▓, have been under the squeeze, analysts and industry players said.Related stories:F▓ull Text: Report on the Work of the GovernmentBEIJING, March 14 (Xinhua) -- The following is the full text of the Report on the Work of the Government delivered by Premier W▓en Jiabao at the Second Session of the Eleventh National People's Congress on March 5, 2009 and adopted on March 13, 2009: Fellow Deputies, On behalf of the St▓ate Council, I now present to you my report on the work of the government for your deliberation and approval. I also solicit comments and sugge▓stions on the report from the members of the National Committee▓ of the Chinese Peopl

sion limits.Its aggressivene
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