UPDATE 1-China c.bank to keep policy steady, push reforms

SHANGHAI/BEIJING, Sept 29 (Reuters) - China's central bank said on Sunday that it would keep policy steady with timely fine-tuning to cope with economic uncertainties while forging ahead with yuan and interest rate reforms.

China's economic performance and inflation remained stable but there would be "difficulties and challenges" ahead, the People's Bank of China said in a statement after a regular meeting of its monetary policy committee.

While maintaining prudent monetary policy, the central bank will make pre-emptive and timely policy fine-tuning to help stabilise economic growth, it said.

The central bank also pledged to push forward market-oriented interest rate reforms and improve the currency regime while keeping the yuan exchange rate basically stable.

Beijing has stepped up efforts to head off a sharp economic slowdown by quickening railway investment and public housing construction and introducing measures to help smaller companies.

Recent economic data has shown some of the impact of those policies, with factory output in August hitting a 17-month high and retail sales growing at their fastest pace this year.

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China c.bank to keep policy steady, push reforms

SHANGHAI/BEIJING, Sept 29 | Sun Sep 29, 2013 6:37am EDT

China's economic performance remained stable but there will be "difficulties and challenges" ahead, the central bank said in a statement after a regular meeting of its monetary policy committee.

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Ford C-Max sales hold steady despite fuel economy fracas

Despite the ballyhoo that accompanied Ford's lowering of the C-Max fuel economy figures, the Blue Oval is still seeing strong demand for the five-seat MPV, as Automotive News reports. Speaking to marketing boss Jim Farley, AN says that the controversy surrounding the C-Max's fuel economy figures won't force Ford to change its marketing strategy.

Ford lowered the fuel economy rating of the C-Max after public outcry and legal action by customers that were unable to reach the 47 miles per gallon promised by the window sticker. The new ratings were dropped about a month ago to 45 mpg on the freeway and 40 mpg in the city. Ford offered rebates for current C-Max owners, with $550 going to those that bought their car and $325 to lessees. The issue, says Ford, stemmed from testing standards that allowed the automaker to base the C-Max's fuel economy on the Fusion Hybrid, because they use identical powertrains. The C-Max's less aerodynamic shape wasn't taken into account, though.

Whether Ford's PR team handled the crises perfectly or people just aren't that bothered by a four-mpg drop in combined ratings, demand remains strong for the C-Max among consumers. Ford moved 3,000 units in August, which was a 12-percent jump over July sales. Meanwhile, consumer demand through third-party shopping websites remains strong as well, according to Autometrics, a data analysis company that spoke with Automotive News. While the long-term effects of the adjustments remain unknown, the C-Max appears to have fared well in the near term.

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