We have been predicting it for quite a while: Chinese car exports, hopelessly in a hole, will be saved by those who used to be most paranoid about Chinese exports: Foreign carmakers. Surprisingly, they are led by partially government and union-owned GM.
The new motto appears to be: “Chinese car exports bad, except if they are our Chinese.”
Says Reuters: “Foreign car makers now see China as a launch pad for exports, with General Motors blazing the trail with shipments of its Chevy Sail.”
According to Reuters, “analysts” (such as us) “say early signs of success for the Sail will only encourage other car manufacturers to develop products in China and then use the country as a base for exporting elsewhere.”
Wasn’t there the apocalyptic angst that cheap cars from China will flood the world markets? It’s becoming reality, except that the first ones are wearing a Chevrolet bow-tie. The Sail can be bought in China for as little as $8,640.