Volkswagen makes a $3.5 billion bet on China

    HEFEI, China (AP) — Volkswagen is making a major bet in China, the largest and one of the most cutthroat auto markets in the world. The question is whether it will work. The German carmaker, which once dominated the market with a more than 50% share, has invested 3 billion euros ($3.5 billion) in a…

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    This photo provided by BMW shows the 2025 BMW X3. It offers sporty driving dynamics, advanced tech, and ample space for passengers and cargo. (Courtesy of BMW of North America via AP)

      Luxury car sales in China weaken as its economy slows

      HONG KONG (AP) — Chinese demand for foreign luxury cars is waning as customers opt for more affordable Chinese brand models, often sold at big discounts, catering to their taste for fancy electronics and comfort. That is bad news for European carmakers like Porsche, Aston Martin, Mercedes-Benz and BMW that have long dominated the upper…

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        Japan protests after China military jet locks radar on Japanese aircraft

        TOKYO (AP) — Japan and Australia urged calm on Sunday after Chinese military aircraft locked radar on Japanese fighter jets, a month after the Japanese leader’s recent remarks on Taiwan that stirred tensions between Tokyo and Beijing. Defense Minister Shinjiro Koizumi said Japan formally protested the incident, calling it “an extremely regrettable” act and “a…

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