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GM China July sales up 77.7 pct: company
Shanghai (AFP) Aug 3, 2009 General Motors, which has just emerged from bankruptcy under a US government-backed plan, said Monday its sales in China jumped 77.7 percent last month from a year earlier to 144,593 units. The struggling US automaker and its joint ventures sold a total of 959,035 vehicles in China in the first seven months of the year, up 42.8 percent from the same period a year earlier, the company said in a statement. "This was GM China's best July ever, extending an uninterrupted series of single month sales records that started in January 2009," it said. GM China's fortunes are the reverse image of its US parent, which took over the main producing assets of the "old GM" and exited bankruptcy last month, underlining the Asian market's increasing significance for the auto industry. In a sign of China's growing importance, the reconstituted, leaner GM has made Shanghai the base for its international operations, from which it will coordinate its activities in various regions around the world. China, GM's second largest market after the US, overtook the United States to become the world's largest car market for the first time in January. The country's auto sales grew 17.7 percent to 6.1 million units in the first half of the year and is forecast to hit 11 million for the whole year, according to the China Association of Automobile Manufacturers. The growth stands in marked contrast to the US, where automakers saw a 28 percent drop in June with a seasonally adjusted annualized rate of 9.69 million vehicles, sharply below the 13.69 million level posted in June 2008 Share This Article With Planet Earth
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