Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

GM says China car sales on track for record 2012  Join our daily free Newsletter

MENAFN - AFP - 06/12/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - AFP) US auto giant General Motors (GM) said its full-year sales in China, the world's biggest car market, will surpass last year's 2.55 million and set a new record.

In the first 11 months, sales of GM and its ventures in China surged 10.4 percent from a year earlier to 2.59 million vehicles, more than the total for the whole of last year, GM said in a statement, released on Thursday.

For November alone, GM sold 260,018 vehicles in China, up 9.7 percent from 2011.

China's overall auto sales growth slowed last year after the government scrapped purchasing incentives and limited car numbers to ease traffic congestion and cut pollution.

In 2011 sales rose just 2.5 percent to 18.51 million units, compared with an increase of more than 32 percent in 2010, but growth has recovered slightly this year.

Nonetheless foreign manufacturers have bucked the slowdown with stronger brand recognition and perceptions of better quality among domestic consumers, although Japanese brands have been hurt by a territorial dispute between Beijing and Tokyo.

GM said last week that one of its Chinese joint ventures will invest 6.6 billion yuan (1.1 billion) in a new plant to meet growing demand for commercial vehicles.

The venture between GM and Chinese partners SAIC Motor and Wuling Motors aims to open the 400,000-vehicle-a-year plant in the southwestern metropolis of Chongqing in 2015.


 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help