GM (China) Sale Gloomy in China

According to the news from GM (China) said General Motors Corp posted six percent growth in China vehicle sales in 2008, the lowest growth rate in at least six years. GM and its Chinese joint ventures sold 1.094 million vehicles in China. China is its biggest market for GM.

Shanghai GM, the US giant's 50-50 venture with China's largest automaker SAIC Motor, sold 445,709 units of vehicles in 2008. Sales were down seven percent from 2007 due to limited introductions of new models. However, GM's major rival Volkswagen Group seemed to grow faster, with sales of 853,800 units of vehicles in the first ten months of 2008 in China, increasing 12.6 percent year-on-year. Shanghai GM has lost its crown of sales champion in the China market in the past three years to FAW Volkswagen.

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