02 Apr '11, 10am

General Motors' China sales growth slows sharply

General Motors' China sales growth slows sharply

BEIJING: General Motors, the biggest overseas automaker in China, said Saturday its sales growth in the world's largest car market had slowed sharply year-on-year in the first quarter. The US auto giant said it sold 685,583 vehicles over the first three months of 2011, exactly 10 per cent more than during the first three months of 2010. GM said it sold 233,014 vehicles in China last month, against 230,048 vehicles in March last year, an increase of just 1.3 per cent. The slowdown in market growth, predicted by analysts, is seen as a consequence of the end of incentives offered by the Chinese government during the 2008-2009 financial crisis. "GM had a good month and a solid start to the year despite the expiration of government incentives at the beginning of 2011 and the consequences of the tragic earthquake and tsunami in Japan," said Kevin Wale, president of GM China. He ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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