General Motors’ Largest Market is Now China

General Motors’ Largest Market is Now China

The booming Chinese automotive market has been good to General Motors, with Chinese sales surpassing sales figures in the U.S.

According to GM and its Chinese joint venture, the automaker saw its sales increase 10.6 percent during the first half of 2013 to nearly 1.6 million. In comparison, GM sold 1.4-million vehicles in the U.S. during the same time period. GM isn’t the only one enjoying success in China, as Ford saw its China sales growing 47 percent in the first half of the year, with June’s demand rising 44 percent compared to last year.

General Motors expects demand in China to “remain robust through the end of the year,” according to Bob Socia, President of GM China. Despite Ford’s growing success in the market, GM is well ahead of its competition. During the first half of 2013, Ford sold 407,721 vehicles compared to GM’s 1,567,392 units. GM has aggressive plans for the Chinese market, targeting five million vehicle deliveries annually by the end of the decade.

GM has 12 joint ventures, two wholly-owned foreign enterprises, and employs more than 55,000 people in China. Last year, the American automaker sold over 2.8-million vehicles.

[Source: The Detroit Bureau]

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