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February 9, 2011

CHINA: GM sets new monthly sales record

General Motors’ set a new monthly sales record in China last month jumping 22.3% compared to the same month a year ago to 268,071 vehicles.

General Motors’ set a new monthly sales record in China last month jumping 22.3% compared to the same month a year ago to 268,071 vehicles.

This topped the company’s previous best of 230,038 sales set in March last year.

GM’s sales in China last year increased 28.8% year-on-year to an annual record of 2.35m, outstripping its sales in the US for the first time.

Auto sales in China rose more than 32% in 2010 to 18.06m according to the China Association of Automobile Manufacturers (CAAM).

Last year’s growth was boosted by consumers snapping up cars amid worries that Beijing would scale back stimulus policies, including tax cuts introduced to combat the financial crisis.

CAAM forecast sales and production would grow at a slower pace this year, around 10-15%, after purchase taxes for small cars rose to 10% and Beijing slashed the number of new registrations allowed in the capital.

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