GM's China sales speed past those in US New York (AFP) Dec 1, 2009 Troubled US car maker General Motors on Tuesday announced it sold more vehicles in China in November than in its home market of the United States. The Detroit auto giant saw its sales double in China in November versus the same month a year before, reaching 177,339 vehicles, according to the company's top market analyst Mike DiGiovanni. In the United States sales dipped two percent year-on-year to 151,427 units, as US car markers continued their slow recovery. The figures were enough to boost GM's share of the burgeoning Chinese market by 13 percent the firm said. "China was once again an outstanding level of sales," said DiGiovanni, adding that in November one in every four cars were sold in China. At an annualized rate 68.2 million units were sold worldwide in November. "We're seeing the global industry clearly strengthening across the board," he said. Despite the upbeat outlook, the firm continues to be buffeted by tail winds from the economic storm that forced the US government to take a 60 percent stake in the firm. GM announced on Tuesday that its CEO Fritz Henderson would be stepping down after less than a year in the job. Share This Article With Planet Earth
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China's Geely to own Volvo technology: report Beijing (AFP) Nov 27, 2009 Chinese auto group Geely said Friday it has reached an agreement with US auto giant Ford on intellectual property rights in its bid for Volvo Cars, Dow Jones Newswires reported. Zhejiang Geely Holding Group said it will own the intellectual property rights to Volvo's key technologies, including those related to safety and the environment, through its purchase of the loss-making auto maker. ... read more |
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