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Business

Chinese carmaker sales drop at home

BEIJING/SHANGHAI/GUANGZHOU, China -- Major Chinese carmakers face difficulties selling their vehicles in the world's largest market for new cars. The sales slump is hitting private companies hard. Earnings for 2014 released April 3 revealed the same result for all companies -- sharp drops in profit. With many consumers opting for the technologically advanced vehicles made by foreign brands, Chinese makers fell further behind.

Chinese brands sink

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