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Cars

Automakers benefit as domestic sales soar

By Li Fangfang (China Daily)
Updated: 2010-12-03 09:19
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BEIJING - Automobile manufacturers continued to benefit from brisk domestic sales in November, as General Motors (GM) led the industry in releasing higher figures on Thursday.

GM, which recovered from last year's bankruptcy protection crisis thanks, in part, to its prosperous business in China, reported a November sales record of 196,990 units, with an 11.2 percent rise on an annual basis, supported by an all-time record monthly demand for vehicles in its Buick and Chevrolet brands.

For the first 11 months, sales by GM and its joint ventures in China were up 32.7 percent year-on-year to 2,172,395 units.

On Nov 4, the US company became the first global automaker to sell 2 million vehicles in China during a single year.

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"This is another important milestone for General Motors in China," said Kevin Wale, president and managing director of the General Motors China Group.

"Over the past decade, China's vehicle market has experienced unprecedented growth. General Motors has grown with it, working with our joint ventures to expand our lineup of vehicles and brands," said Wale.

In the January to October period, China sold 14.7 million vehicles domestically, marking year-on-year growth of 35 percent.

The US consulting firm J.D. Power estimated this week that China's whole-year sales in 2010 would reach 18 million units, surpassing the highest record in the US.

That forecast was even higher than the 17.5 million prediction made by the official China Association of Automobile Manufacturers. The association will release its November figures next week.

Dongfeng Peugeot Citroen Automobile Co Ltd, PSA Peugeot Citroen's Chinese joint venture, said that sales rose 45 percent from a year earlier to 40,018 units in November, also setting a new record for a single month.