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Sales - China - General Motors reports: In first three quarters rise 28 percent
SHANGHAI, China -The Detroit News/Associated Press -Oct 27, 2005: -- General Motors Corp. said Thursday that its China sales in the first three quarters of 2005 rose 27.8 percent from a year earlier, helped by a rebound in sales following a slow start.
According to analysts, a large share of the growth in GM's sales in China, which totaled 472,468 vehicles between January and September, were from a mini-vehicle joint venture with partners Shanghai Automotive Industrial Corp. (SAIC) and Wuling Automotive... Much of the sales growth has come from economy models, rather than the large sedans that fattened automakers' profits in previous years... China's passenger-car makers reported a 52.9 percent year-on-year drop in profits in the first three quarters of this year, according to a report earlier this week by the National Bureau of Statistics...
posted by Unknown @ 1:40 PM
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