For a third straight month, sales in China for General Motors Co. exceeded its US deliveries, emphasizing the country's significance as the world's largest auto market.
GM sales in China last March were also at a record high. GM is the biggest foreign automaker in China. In a statement, GM said that sales rose by 68% to 230,048 vehicles last month.
Meanwhile, Toyota Motor Corp. had a 33% gain and Hyundai Motor Co. had a 47% increase.
US sales for GM rose 21% last March to 188,546. GM has a goal to raise sales in China to 2 million vehicles in 2010 from 1.83 million in 2009, when government subsidies boosted the nation's auto demand 46% from a year earlier, surpassing the US for the first time.
The growth rate in China is expected to slow but this doesn't discourage carmakers to add production capacity. Qin Xuwen, an analyst at Orient Securities Co. in Shanghai, said that there is a "continuous demand" for cars in China.
Qin Xuwen said that while carmakers wouldn't be concerned about making sales, they may be forced to cut prices due to the increase in capacity.
Sales in China for Toyota rose to 61,200 vehicles last month. Hyundai, which holds the record of being the fastest- growing foreign automaker in China last year, sold 61,638 units. [via autonews]