Detroit Bureau on Twitter

Posts Tagged ‘asian auto sales’

GM, Ford Post Record February Sales in China

Makers flourishing despite country’s sluggish economy.

by on Mar.06, 2014

The Ford Mondeo is a strong seller in China and helping lead the maker to rising sales there.

While the Chinese economy may be sluggish, those forces don’t seem to be hurting General Motors and Ford. The two U.S. automakers, which continue to expand their footprints in the country, posted record sales results in February after seeing strong results in January too.

GM reported its joint ventures sold 257,770 vehicles in China during February, setting a new record for the month as sales increased 19.9% from the same month last year. Continued strong demand for the Ford Focus, the best-selling nameplate in China last year, helped Ford China increase sales by 67% in February, with 73,040 vehicles sold.

Insight!

Both GM and Ford are off to a fast start despite concerns about the Chinese economy, which is facing a variety of challenges and is growing at a slower pace than in the past. China’s economy grew 7.7% last year, according to Bloomberg, and similar growth is expected again this year. (more…)

China Closes ’09 as World’s Largest Car Market

Expected to remain leader in 2010.

by on Jan.08, 2010

China takes the global sales crown for 2009.

Decades before most observers imagined it possible, China closed 2009 as the world’s largest national car market, government officials reporting sales topped 13.5 million, compared with just 10.9 million for the recession-wracked United States.

While U.S. sales plunged more than 20%, last year, demand for automobiles surged 40% in China, the state-run Xinhua news agency reported.  That reflects not just a strong economy but a policy of direct intervention by the Beijing government, which rolled out a series of incentive programs designed to keep the industry’s momentum going.

Among other things, normally-hefty taxes were slashed on vehicles with engines smaller than 1.6 liters.  The government also encouraged the sale of alternatively-powered vehicles, such as the new plug-in hybrids sold by Chinese maker BYD.  And subsidies were offered to assist the country’s farmer purchase vehicles.

Could the Chinese market hit 40 million? Click Here.

(more…)