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IPO

IPO

Slowing Western car markets hit Nexteer IPO

Slowing Western car markets hit Nexteer IPO

The listing of car parts-supplier Nexteer Automotive will offer investors an opportunity to hitch a ride on the Chinese passenger-vehicle market, say analysts. But one of the biggest questions for the United States-based steering and driveline systems producer - which was acquired in 2010 by Pacific Century Motors (PCM), an investment arm backed by the Beijing municipal government - is how it can offset the downward pressure on selling prices of its products as slowing car markets in the US and Europe look inevitable.