GM posts China sales record in January

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General Motors’ China sales in January rose 22% year-on-year to a record 268,071 units. GM sales in China expanded 28.8% in 2010, and growth continued in January despite concerns that the discontinuation of government incentives for vehicle purchases at the end of last year would adversely affect demand.

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Overall auto sales in China rose 32% to 18.1 million units in 2010, but the China Association of Automobile Manufacturers predicts sales will slow by 10-15% this year. GM said its share of the China auto market also increased to 15% at the end of last month and that China is now its largest single market.

Shanghai General Motors, a joint venture between GM and SAIC Motor sold 131,944 units in January, up 46% from last year. Other joint ventures posted smaller gains. GM said it will introduce the Chevrolet Volt hybrid electric car in China this year and launch a new Baojun passenger car line.

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Via: ChinaEconomicReview

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