GM sees Chinese sales soar 13th July 2004

General Motors has recorded a major leap in first-half vehicle sales in China, according to its latest results.

GM said that it had seen a 58 per cent leap in sales to a record 259,653 units, offering some solace after the latest monthly industry figures showed the Chinese market had stumbled in June.

At the company's flagship venture with Shanghai Automotive Industry, Reuters reports that sales soared by a massive 92.4 per cent in the first six months, standing at 141,319 vehicles

GM says it now commands as much as 11.7 per cent of the market and predicted some strong months ahead.

"Long term, we remain very confident," GM's China spokesman Dahpne Zheng told Reuters.

"As an on-going effort, we will continue to closely monitor the competition and take necessary measures to ensure the competitiveness of GM products in the marketplace."

The performance of GM is likely to cheer observers who were concerned by last month's figures, which revealed a dip in the region's phenomenal growth.

China Association of Automobile Manufacturers put June car sales at 164,852 - marking an annual rise of just 2.2 per cent, the lowest figure for a number of years.


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