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Posts Tagged ‘Chinese economy’

Some Automakers Thriving in Slower China Economy

GM, Ford, Mercedes all expect sales to outpace industry in 2016.

by on Jan.18, 2016

The Buick Envision enjoyed explosive success in the Chinese market in 2015, giving GM reason to be optimistic about China in 2016.

A huge drop in the value of Chinese stocks has unsettled the global economy and led to predictions of slower growth around the world and intense pressure on the energy sector where an oil glut has developed in face of falling demand.

Nonetheless, automakers remain surprisingly upbeat about sales in China, which has become by far the world’s largest market for new vehicles despite the prospects for only modest growth of the Chinese economy overall.

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No one expects the kind of explosive, double-digit growth that characterized the decade prior to 2015 when it finally slowed dramatically. But automakers such as Ford Motor, General Motors and Daimler AG remain cautiously optimistic about their Chinese business. (more…)

GM, Ford Enjoy Strong March Sales in China

Auto sales rise despite economic sluggishness.

by on Apr.07, 2015

Cadillac's March sales in China were 76% due in large measure to a strong interest in the ATS.

General Motors and Ford saw their vehicle sales grow in China during March despite concerns about the slower growth in the Chinese economy.

GM reported its sales increased 8% last month to a March-record 338,350 units. GM has 11 joint ventures, two wholly owned foreign enterprises and more than 58,000 employees in China.

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Sales by SAIC-GM-Wuling and Cadillac, which saw its sales grow by more than 76%, reached an all-time monthly high, while Shanghai GM and Chevrolet had record March domestic sales. (more…)

Ford, GM Implement Expansion Plans in China

Makers invest in plants despite slowing economy.

by on Jan.30, 2015

Shanghai GM invested more than $1 billion in a new plant in China's Hubei province and expanded other facilities in the country.

Despite the fact that China’s economic growth has slowed, General Motors and Ford Motor Co. continue pushing ahead with plans to expand their production footprint there.

Mark Fields, Ford’s chief executive officer, told analysts this week thatFord expects the Chinese economy to grow by 7% to 7.5%, which is ample enough to sustain an increase in sales of new vehicles. Ford expects sales to come in at between 24 million and 26 million units and the automaker, with its Chinese partner, is moving ahead with plans to open two new factories in China this year.

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Ford plans to open both an assembly plant and an engine plant in China this year. Ford sales in China grew 19% in 2014 to 1.1 million units and helped maintain the profitability of Ford overall operations in the Asia Pacific region despite losses in other parts of the region. (more…)