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Filed under: China , Cadillac , Chevrolet , Ford , GM , Earnings/Financials , By the Numbers While domestic sales continue to slide, the auto market in China is thriving. Both General Motors and Ford have reported double-digit sales growth for the first-half of 2008 in the world's most populace country, with GM moving 590,126 Buick, Chevrolet, and Cadillac vehicles for a total sales increase of 12.7 percent, while Ford sold 172,411 units for 21 percent jump in growth. With China recognized as the second-largest vehicle market outside the United States, and with their economy forecasted to grow by at least nine percent this year, automakers in Europe, Japan, and the U.S. are investing heavily to expand sales and production in the Chinese market. It is worth noting that vehicle sales in China have been nearly immune to the increase in global oil prices as governmental controls keep diesel and gasoline prices among the world's lowest. [Source: Detroit News ] Permalink | Email this...
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Filed under: China , Government/Legal , Plants/Manufacturing , Chrysler , Ford , GM , Earnings/Financials American automotive companies have been doing rather well for themselves these last few years in China. Still, the majority of manufacturing those vehicles is done in China using locally sourced parts. For this reason, the Chinese government has been facing pressure to ink more deals with American companies for the export of goods there, which is apparently now beginning to take place. Ford, for instance, has announced that it will be sending 30,000 complete vehicles (no word on which ones) to China along with other various auto parts. General Motors has also signed on with about $1 billion in vehicles and parts for export to China. Chrysler too will get in on the trading, though its deals will likely be smaller than either Ford's or General Motors'. All in all, the automotive sector will make up about $2 billion of the recently announced deals, which total more than $8.3 billion...
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