GM Gets Benefit from the Government
2009-03-30 Source：english.chinabuses.com
The sales of China minivan boosted 32 percent in the first two months after a cut in retail taxes on small vehicles. The government is now giving out 5 billion Yuan in subsidies to spur auto sales in rural areas. For example, General Motors Corp gets the benefit from this good policy and helping it to sell vans. GM doubled its 2009 forecast for China's market growth as the tax cuts and subsidies revived demand.
According to GM forecasted that auto sales in China may rise between 5 percent and 10 percent in 2009. SAIC-GM-Wuling sales rose to 72,947 units in February, about 50 percent more than a year earlier. Nick Reilly, GM's Asia-Pacific president, said "There's a very direct link between the government's efforts to boost rural consumption and Wuling's rising sales."
General Motors Corp, the world's largest automaker, has been the global industry sales leader for 76 years. Founded in 1908, GM today employs about 280,000 people around the world. GM's largest national market is the United States, followed by China.
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