General Motors reportedly said its share of profits from its joint ventures in China rose 19% to $US148 million in the second quarter.
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According to Reuters, GM’s earnings in China were up from $124 million in the second quarter last year but the profit narrowed from $162 million in the first quarter.
GM also reportedly said its share of losses in Korean automaker GM Daewoo fell to $8 million in the second quarter, from $16 million in the year-ago quarter.
Reuters noted that GM in June announced plans to increase investment in its Chinese joint ventures by $3 billion over the next three years.
Its market share in China rose to 9% in the second quarter from 7% a year ago, and sales were up by about 200,000 vehicles, the report added.
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