Brilliance China To Delist From NYSE

Brilliance China Automotive Holdings, the first Chinese auto company to list its shares on the New York Stock Exchange, said it plans to withdraw that listing from the NYSE because of a decline in trading volume and a concurrent rise in administrative costs.

Based in the northern city of Shenyang, Brilliance has a joint assembly venture with BMW and builds medium-size vans under license from Toyota. It also builds a modest range of passenger cars under the Zhonghua brand name and has recently begun to export those vehicles to Europe.

Brilliance suffered a setback to its export plans when its flagship model, renamed BS6 for Europe, failed crash tests last month in Germany.

Company representatives already have begun soliciting prospective U.S. dealers in preparation for a planned 2009 launch in North America.

Brilliance said that after delisting on NYSE, its American depositary shares will trade over the counter.