General Motors doubles its sales in China
By Andrew C., 27 Aug, 2010. 0 Comments
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China's auto market has been a major bright spot to General Motors this year.
In fact, GM sold 166,911 vehicles in China last month, according to a statement from the carmaker. For the first 10 months of 2009, GM and its joint ventures have sold 1.46 million units and as of Nov. 9, had exceeded 1.5 million units.
The Chinese market has felt the effects of the raft of government incentives, including aggressive cuts in sales taxes on small cars, which will expire by the end of the year. Kevin Wale, president and managing director for GM's China operations, recently said that the US automaker aims to grow faster than the overall market next year as Beijing is expected to come up with further steps to support the industry.
Shanghai GM, its flagship car venture with SAIC Motor Corp., sold 68,505 vehicles in October, representing a 109.7% increase from a year earlier, with sales in the first 10 months up 46.5% to 548,707 units.
Meanwhile, Honda's Japan operations are predicted to stay in red even as demand has been brisk and has been pushed by generous tax reductions and incentives on hybrids such as its new Insight model. [via autonews]
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