GM's China Sales Growth Slowed to 6.1%

Jan. 6, 2009
Growth in 2007 was 18.5%

General Motors said on Jan. 5 its sales growth in China slowed to 6.1% in 2008, less than a third of the rate seen the previous year as the economic slowdown affected demand.

The 2008 growth figure was down significantly from 2007's 18.5% increase over the previous year.

GM and its joint ventures sold more than 1.09 million vehicles in China in 2008, its biggest market outside the U.S.

"A series of natural disasters and an increase in fuel prices earlier in the year exacerbated the impact of the global economic downturn in China," Kevin Wale, president and managing director of GM China Group said.

China's auto sales fell 14.6% in November from the same month a year earlier, according to industry association figures.

Copyright Agence France-Presse, 2009

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