Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

Israel-Gaza, From Bad to Worse? With no Ceasefire in Sight, Conflict Spillover Felt Elsewhere (part 2)

Read more

DEBATE

Israel-Gaza, From Bad to Worse? With no Ceasefire in Sight, Conflict Spillover Felt Elsewhere

Read more

FOCUS

Overfishing and the global appetite for bluefin tuna: can Tokyo help turn the tide?

Read more

EUROPE NOW

Best of Europe Now (Part 1)

Read more

ENCORE!

Clapton pays hommage to 'Cocaine' songwriter J.J. Cale

Read more

TALKING EUROPE

Dalia Grybauskaite, President of the Republic of Lithuania

Read more

TALKING EUROPE

Alexander Stubb, Prime Minister of Finland

Read more

WEB NEWS

Web users pay tribute to MH17 victims

Read more

THE INTERVIEW

Lieutenant General David Morrison, Australia's Army Chief

Read more

  • Ukraine rebels release bodies, black boxes from flight MH17

    Read more

  • Over 100,000 displaced in Gaza as death toll escalates

    Read more

  • An ‘explosion of violence’: French press reacts to Gaza protests

    Read more

  • US, UK oppose France’s warship sale to Russia

    Read more

  • Notorious ‘VIP’ prison in Paris closed for renovations

    Read more

  • Christians in Iraq's Mosul face execution or exodus

    Read more

  • Scores killed as Libyan militias fight over airport

    Read more

  • Ukraine football players refuse to return home after friendly in France

    Read more

  • China steps up communist education to guard against ‘moral decline’

    Read more

  • France slams ‘anti-Semitic’ violence at pro-Palestinian rally

    Read more

  • French rugby stars attacked with machetes and swords

    Read more

  • Hollande announces new military operation in West Africa

    Read more

  • Prince George picture released to mark first birthday

    Read more

  • Kristoff wins Tour’s flat Stage 15

    Read more

Business

GM says Chinese sales up 38% in first half

Text by NEWS WIRES

Latest update : 2009-07-01

Struggling US carmaker General Motors says sales from its Chinese branch and local joint ventures reached 814,442 units in the first half of 2009, up 38 percent from last year.

AFP - General Motors China said vehicle sales in the world's most populous nation were up 38 percent year-on-year as the market continued to outpace expectations for growth.
   
The struggling US automaker and its joint ventures sold more than 800,000 vehicles in China in the first half of 2009.
   
Sales were boosted by a massive Chinese stimulus programme as well as growing demand in medium-sized cities and rural areas, according to a statement issued by the company.
   
"China's vehicle market continued to outpace most expectations for growth," GM China Group President Kevin Wale said in the statement.
   
"The market benefited from stimulus policies adopted by the Chinese government as well as growing demand for personal transportation in tier-three and tier-four cities and rural areas."
   
GM China's fortunes mark a sharp contrast to its US parent, which has filed for bankruptcy, reflecting the Asian market's growing importance for the global auto industry.
   
China overtook the United States to become the world's largest car market for the first time in January.
   
GM's troubles have been further highlighted here in recent weeks after Sichuan Tengzhong Heavy Industrial Machinery Co, a little-known Chinese machinery maker, placed a bid to buy its iconic Hummer brand.
   
Sales from GM's commercial-vehicle joint venture in China with Shanghai Automotive Industry Corp. Group jumped 49.9 percent to 524,598 units while sales from the passenger vehicle joint venture, with Shanghai General Motors Corp, reached 288,843.
   
GM China said it is optimistic about the outlook for the rest of the year.
   
"Vehicle sales in China are expected to remain strong in the second half of 2009," Wale said.
 

Date created : 2009-07-01

COMMENT(S)