GM expecting China sales to grow by more than 20 percent this year
07/08/2009, 12:30 PM
By Drew Johnson
General Motors’ June 1st Chapter 11 bankruptcy filing was likely behind the automaker’s sharp drop off in June sales, but some global markets appear to be well insulated from the Detroit automaker’s precarious financial position.
While GM’s U.S. and European sales continue to falter, the automaker’s China division continues to see strong results. GM previously predicted that its Chapter 11 filing would slow its sales growth in China to about 10 percent, but the Detroit automaker now says it expects to expand its Chinese sales by more than 20 percent this year, according to Automotive News.
GM was concerned that its financial woes could alter consumer perception in China, but the situation appears to be far enough removed to keep business moving as usual. That’s good news for General Motors as China represents the automaker’s second largest market, trailing only the United States. For the most part, China has avoided a complete sales collapse as a result of the faltering global economy.
07/08, 12:55 PM
posted by:
SportsCarsForever
Curse you China! You are the reason my beloved Pontiac is dead just when there was hope of it to recover its sports car glory. Now we are stuck with Buick. And from the news coming out of GM its seems we are up for the same old same old: boring four door sedans that don’t have a purpose in the lineup.
07/08, 1:04 PM
posted by:
Dante_JoseCuervo
Hey NMOFGM
GM – A Chinese revolution.
07/08, 1:10 PM
posted by:
BAD124
Dante_JoseCuervo
“Hey NMOFGM
GM – A Chinese revolution.”
ROFL
07/08, 1:13 PM
posted by:
Dante_JoseCuervo
BAD124
-Hell yeah, figured I’d throw that out there.
NMOFGM
- I await your response…
07/08, 2:02 PM
posted by:
Lariat Luxury Locomotive Liner No.3
There’s still hope that US Taxpayers can recoup some bailout money if China buys GM.
07/08, 2:10 PM
posted by:
Lariat Luxury Locomotive Liner No.3
The Born Again GM
07/08, 2:37 PM
posted by:
Borat
Even after pissing 50 billions into GM-hole, I hope that GM will see the light and move to Bejing. We will save another 100 billions that will follow if they stay where they are.
07/08, 2:44 PM
posted by:
johnnycanuck
At least when the elderly run into things over there my insurance rates don’t go up.
07/08, 3:43 PM
posted by:
leftwingagenda
sales expanding 20% during a recession is very good news, all dead-horse-beating comments aside from the peanut gallery…i wonder what the numbers are like, when will the inflection point be hit where the chinese market is bigger than the US market…
07/08, 4:08 PM
posted by:
Need more oil for GM
China knows a good thing when they see it and GM builds the best. Nothing in the world comes close to General Motors when it comes to quality, relibility, dependibily or longevity. THis is Americas cars and trucks and its only right that the rest of the world recognize that.
Buy American. General Motors.
07/08, 4:34 PM
posted by:
aggie531
good. now GM can pack up and move to China and steal their tax money.
notice how nmofgm didnt put GM an american revolution. thats becaus hes sad that Americans dont wanna buy his cars
07/08, 4:38 PM
posted by:
ricky_b
Sadly, China gets better Buicks than America.
07/08, 7:25 PM
posted by:
Dante_JoseCuervo
ricky_b
Funny how that works, isn’t it? They’re supposed to be an American company and yet Europe and China are the ones that get the majority of the good cars. Sad day man, sad day.
07/09, 3:54 AM
posted by:
Bankruptcy2009
yeah well it been that way at Ford Motor too Dante_JoseCuervo but fortunately with Allan Mulally @ the controls he is doing something at Ford Motor that all car companies will imitate and that is come out with World Cars. Instead of offering Junk on one continent and a superior vehicle on the other. Ford did this before way back with the Escort, but its first true world car was the Contour and then the Worlds best selling World Vehicle the Ford Focus. If Ford does best in class for every vehicle they will be Numero Uno and my understanding is that is exactly what Mulally is doing right now.
07/09, 8:27 PM
posted by:
GM An American Embarrassment
my name says it all
07/10, 8:42 AM
posted by:
Need more oil for GM is an idiot
China doesnt knows a good thing when it kicks them in the ass. Nothing in the world comes close to General Motors when it comes to poor quality, poor relibility, poor dependibily or straight up failure. This is Americas cars and trucks and its only right that the rest of the world to make fun of them.
Dont buy American. Dont buy General Motors.