UPDATE 1-China aims to merge automakers as economy falters

Newswire

*Plan would merge carmakers into at most 10 big groups vs 14 *Cabinet also OKs 5 bln yuan subsidies for auto purchases *Government seen finally getting serious about consolidation (Adds analyst comment, background) By Fang Yan SHANGHAI, Feb 24 (Reuters) - The Chinese government aims to cut the number of major auto-making groups through mergers to 10 at most from 14, an official newspaper reported, as the global economic crisis adds urgency to restructuring the fragmented sector. ...

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