GM says China sales hit record high for April

US auto giant General Motors said Monday that it saw record sales in China in April, despite a broader slowdown in the world's biggest car market.

GM sold 227,217 vehicles in April, up 11.7 percent from the same month last year, it said in a statement. GM also registered a sales record for the month of March.

For the first four months of the year, GM's China sales rose 9.4 percent year-on-year to 972,369 units.

GM China Group president Kevin Wale said sales would top a million in May, the earliest it has reached landmark figure in China.

"It has put us on track to once again set a new sales mark for the year as a whole," Wale said in the statement.

GM sold more than 2.5 million vehicles in China last year.

Foreign car makers such as GM have been able to ride out an overall slowdown in China's auto market, the world's largest since 2009, helped by name recognition and perceptions of higher quality.

China's nationwide sales rose just 2.5 percent to 18.51 million units in 2011, compared with an annual increase of more than 32 percent in 2010.

The slowdown came after the government rolled back purchasing incentives and some cities imposed tighter restrictions on car numbers to ease chronic traffic congestion and pollution.

Vehicle sales in China fell 3.4 percent year-on-year to 4.79 million units in the first three months of this year, according to an industry group.

But many of the world's carmakers remain confident of steady growth in the Asian nation, where three out of every four new car purchases are by first-time buyers.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Philippine economic growth slows to three-year low
    Philippine economic growth slows to three-year low

    Philippine economic growth in the first quarter slowed to a three-year low of 5.2 percent, well below forecasts, due to lethargic government spending and weak exports, officials said Thursday. "While growth in the private sector remains robust, the slower than programmed pace of public spending, particularly the decline in public construction, has slowed down the overall growth of the economy," Economic Planning Secretary Arsenio Balisacan told reporters. "Exports were the other source of the …

  • EM ASIA FX-Won near 2-month low on plunging yen, peso pares gains as growth weakens

    * S.Korea intervention spotted, won hits 7-year high vs yen * Philippine peso briefly weaker after Q1 growth disappoints (Adds text, updates prices) By Jongwoo Cheon SEOUL, May 28 (Reuters) - South Korea's ... …

  • Britain's tied visa rules fuel abuse of live-in maids, nannies

    By Katie Nguyen LONDON (Thomson Reuters Foundation) - When Susi, a single mother from the Philippines, left for a job in Qatar, she convinced herself it was a sacrifice worth making for her children at home. For more than a year, Susi's sacrifice involved waking before dawn and working past midnight, cooking, cleaning and looking after a Qatari family. Conditions deteriorated when Susi was brought to Britain by her boss. …

  • SE Asia Stocks - Philippines at four-month low after Q1 GDP miss

    BANGKOK, May 28 (Reuters) - Philippine shares hit a more than four-month low on Thursday after economic growth in the first quarter was slower than expected, while Thai stocks retreated after disappointing ... …

  • Philippine economic growth slows to 5.2 percent in 1Q

    Sluggish government spending slowed Philippine economic growth in the first quarter of this year, officials said Thursday. The country's gross domestic product grew by 5.2 percent in the first quarter, ... …

  • PSE to sell Makati and Ortigas offices
    PSE to sell Makati and Ortigas offices

    Set to move to a unified headquarters in Bonifacio Global City in 2016, the Philippine Stock Exchange (PSE) has issued plans to sell their offices in Makati and Ortigas. PSE President Hans Sicat issued that PSE means to sell the offices, but that they may also opt to rent them out instead. …

  • ‘Inland areas could be exposed to tsunami-like waves’
    ‘Inland areas could be exposed to tsunami-like waves’

    While strong earthquakes cause tsunamis in coastal areas, the Philippine Institute of Volcanology and Seismology (Phivolcs) warned that inland areas could also be exposed to tsunami-like waves, or seiche, if located near or around bodies of water. In a recent earthquake awareness seminar in Muntinlupa, Phivolcs supervising science research specialist Joan Salcedo explained that a seiche is a large wave similar to a tsunami, triggered by strong ground shaking from an earthquake or volcanic …

  • China gives ‘gentle reminder’ to Phl, warns small nations
    China gives ‘gentle reminder’ to Phl, warns small nations

    China gave the Philippines a “gentle reminder” last Tuesday that Beijing will not bully small countries but warned these nations not to make trouble willfully and endlessly. “Here is a gentle reminder to the Philippines: China will not bully small countries, meanwhile, small countries shall not make trouble willfully and endlessly. The Chinese Foreign Ministry also said that China would continue to build other civilian facilities on relevant maritime features in the disputed Spratly Islands …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options