Wal-Mart to open 100 more stores in China by 2015

BENTONVILLE, Ark., Fri Oct 26, 2012 – Wal-Mart Stores Inc (WMT.N) plans to open 100 more stores in China and create 18,000 jobs there over the next three years, it said on Friday, in a bid to boost its presence in China’s booming but highly competitive hypermarket sector.

Wal-Mart, which has 370 stores and more than 100,000 employees in China, was a pioneer in the market, but now faces much greater competition from Britain’s Tesco Plc, Germany’s Metro AG, France’s Carrefour and domestic firms, as well as a slowing economy.

China’s hypermarket sector, in which retail sales reached 506.9 billion yuan ($81 billion) last year according to Euromonitor, includes the world’s three largest retailers in Wal-Mart, Carrefour and Tesco, and domestic brands led by Sun Art Retail Group.

Chrysler’s new Viper starts at just under $100,000

DETROIT, Tue Sep 11, 2012 – The redesigned 2013 SRT Viper goes on sale in mid-November priced from just under $100,000, making it the most expensive car in Chrysler’s U.S. lineup.

The first Vipers off the assembly line in Detroit will be coupes. The original Viper, introduced in early 1992, was a two-passenger convertible. Asked if Chrysler has plans to add a Viper roadster to the new lineup, a company spokesman said, “Nothing yet.”

The standard Viper will start at $99,390, while the uplevel Viper GTS will be priced from $122,390. Both stickers include a $1,995 shipping charge.

The relaunch of the Viper sports car, which has been absent from the market for two years, is another signal of Chrysler’s resurgence under corporate parent Fiat SpA, which took control of the No. 3 U.S. automaker after its 2009 bankruptcy.

Chrysler said the first Vipers should be delivered to customers in December.

The Viper’s nearest domestic competitor is General Motors Co.’s Chevrolet Corvette ZR1, which has a base sticker of $113,575, including shipping and a federal gas-guzzler tax. Chrysler said Viper will have a gas-guzzler tax, but prices do not yet reflect the tax because official EPA fuel-economy numbers have not been released for the car.

The new Viper features one of the largest engines available in a U.S. production car — an 8.4-liter V10 rated at 640 horsepower. The Corvette ZR1 has a 6.2-liter V8 that delivers 638 horsepower.

The last Viper was sold by Chrysler under the Dodge brand as a 2010 model. The latest edition, which carries the SRT brand, was unveiled earlier this year at the New York auto show.