General Motors’ first-half China sales outstripped those in its home market for the first time as the demand on the mainland continued to grow over the first six months, Bloomberg reported. GM and its joint ventures sold 1.21 million vehicles by end-June compared to 1.08 million in the US. The Detroit-based automaker is depending on overseas expansion to boost profit as it readies for an initial public offering possibly in the fourth quarter. Aided by government support measures including lower sales tax on vehicles with an engine displacement under 1.6 liters, China vehicle sales jumped 46% last year to 13.6 million, overtaking the US for the first time to become the world’s biggest car market.
You must log in to post a comment.