HONG KONG -- A joint venture between China's Guangzhou Automobile Group (GAC) and Mitsubishi of Japan has temporarily halted production and started to cut its workforce following years of falling sales.
Automobiles
GAC-Mitsubishi auto JV in China suspends production, cuts staff
Sales and revenue drop at Chinese-Japanese venture led to 'dire situation'
The GAC Mitsubishi joint venture in March produced 3,368 units and sold 3,969 units, showing a respective year-on-year drop of 70% and 58% for the first quarter. (File photo by AP)
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