For the first time ever, sales in China of General Motors Co.'s vehicles in the first six months of the year have topped its sales in the US. Based on figures reported by GM, sales in China by GM and its joint ventures totaled 1.21 million vehicles in the first half-year period, surpassing US deliveries of 1.08 million.
Michael Albano, a Shanghai-based spokesman, said that this marks the first time in the 102-year history of GM that an overseas market has outsold its own domestic market.
Due to the global economic recession, GM was forced to go into bankruptcy but after emerging, its recovery has been hastened due to the growing demand in China.
GM is preparing for an initial public offering as early as the fourth quarter. John Zeng, a Shanghai-based automotive analyst at IHS Global Insight, said that China is considered to be "one of GM's bright spots globally."
He added that compared to other US carmakers, GM has "done a better job" in the Chinese market.
One factor that has made China's industrywide vehicle sales to rise by 46% last year to 13.6 million is the government stimulus program. Meanwhile, US auto sales dropped by 21% to 10.4 million (the lowest since 1982). [via autonews]