GM China Sales Up 10.4% in October

Nov. 7, 2011
In the first ten months of the year, GM and its joint ventures sold 2.11 million vehicles.

General Motors said Monday its sales in China rose from a year earlier to 220,412 units, an increase of 10.4% -- a new record for the month.

In the first ten months of the year, GM and its joint ventures sold 2.11 million vehicles in the world's biggest auto market, the company said.

China, which overtook the United States to become the world's top auto market in 2009, has become increasingly important for global players such as General Motors and Volkswagen as demand in their home markets deteriorates.

Auto sales in China rose more than 32 % annually last year to a record 18.06 million units, but the sector has since lost steam after Beijing phased out sales incentives such as tax breaks for small-engine vehicles.

The China Association of Automobile Manufacturers expects growth in auto sales for the whole of 2011 to be just 5%, down from an earlier forecast of 10% to 15%.

In the first nine months of the year, car makers sold 13.6 million vehicles in China, up 3.6% from the same period last year.

Copyright Agence France-Presse, 2011

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