General Motors Co. posted higher sales in China than main global rival Volkswagen AG in the first half of 2013, boosted by higher demand for Buick and Cadillac models. GM posted 1.57 million deliveries in China in the first half of 2013. On the other hand, Volkswagen posted a 19-percent gain in China -- including Hong Kong and Macau – to 1.54 million vehicles.
This means the GM is on pace to keep its annual sales crown among foreign carmakers in China for ninth consecutive year. Both carmakers consider China as their largest market and are expecting to sell around 3 million vehicles each this year.
GM, Volkswagen and Toyota Motor Corp. are vying to become to be the largest carmaker in the world this year. Both Volkswagen and GM outpaced the 14-percent growth in total passenger-vehicle sales in China in the first six months of 2013.
Both carmakers have announced further investments in China to expand output. GM recently broke ground a Cadillac assembly plant in Shanghai in June. The US carmaker plans to invest $11 billion in China by 2016 on new sites and products.
The German carmaker, meanwhile, plans to invest EUR9.8 billion ($12.8 billion) in China by 2015. Bob Socia, president of GM China, said in a statement that the carmaker plans to keep adding new and refreshed models in 2013 to maintain growth momentum and meet rising demand in China. [source: Bloomberg]