Jan. 5 – General Motors and local partners announced vehicle sales in China skyrocketed by 67 percent to 1.8 million vehicles in 2009 aided by government tax cuts and subsidies to help the industry and encourage domestic consumption.
The company was the biggest foreign automaker in the mainland in 2009 with more than one million vehicles sold through its joint venture partners Shanghai Automotive Industry Corporation and Wuling. During the same period, its market share rose by 1.3 percent to 13.4 percent.
This highlights the importance of the Chinese market for foreign companies facing declining markets in their home countries.The president of GM China, Kevin Wale, said in a statement: “Despite the sales records in 2009, it looks as if 2010 will be even stronger. The industry outlook is strong and we expect more growth, albeit on a somewhat slower pace.”
More than 12.7 million cars and trucks will be sold in China in 2009, up 44 percent from the previous year and surpassing the 10.3 million forecast in for the United States, the Associated Press reported quoting marketing information services firm J.D. Power and Associates.
December sales for the company amounted to 189,793 vehicles sold, a boost of 96.6 percent from a year earlier. Automakers are refocusing their sales efforts for buyers in smaller cities with rising incomes.
