BRIEFS

China sales slip

SHANGHAI (AP): China's auto sales fell in May compared with a year earlier, as buyers wary of traffic quotas and rising fuel prices shunned showrooms, according to industry data released Thursday.

The China Association of Automobile Manufacturers reported that sales of passenger cars, including sedans, multipurpose and sport-utility vehicles, slipped to 1.04 million vehicles, compared to 1.14 million in May 2010.

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Ford inks Russian joint venture

DETROIT (AP):
Ford Motor Co has finalised a deal with Russian automaker Sollers to build and sell cars and other vehicles in Russia, a key part of Ford's ambitious overseas growth plan.

Ford said Wednesday that the two companies have lined up US$1.4 billion in long-term financing from Vnesheconombank, the Russian development bank, for the 50-50 joint venture called Ford Sollers. Other financial details were not disclosed.

The venture, which includes one Ford plant and two Sollers factories, is scheduled to start operating later this year. 

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GM jump-starts Indiana plant

BEDFORD, Ind. (AP): General Motors Co is investing US$49 million in its Bedford, Indiana, plant, a move that will help to create or keep 91 jobs.

Wednesday's news is part of an effort GM announced May 10 to create or retain about 4,000 jobs by investing US$2 billion in 17 factories in eight states.

The automaker said the Indiana investment will be used for the power train plant so that workers there can make components for an eight-speed transmission and a future small-engine programme. The facility currently has 405 workers.