GM auto sales in China sets new record
Auto sales of General Motors (GM) cars in China hit a new record in January.
GM reported that its January China sales grew 22.3% to the monthly record of 268,071 vehicles. But the sales growth rate was less than the same month last year at 97 percent, when it sold 219,192 vehicles.
The Chinese government provided reductions in sales tax and subsidies for buyers who purchased more fuel-efficient cars. Another factor that may have contributed to the increase in sales was motivation to get cars before the government raised prices on license plates.
“China’s booming market has become increasingly important to GM as demand weakens in the United States. China, where GM’s international operations are now based, overtook the United States as the world’s biggest auto market in 2009.”
In 2010, sales of GM products in China increased by 28.8 percent to 2,351,610 vehicles, compared to US sales increase of only 6.3 percent to 2,215, 227.