Reuters: GM Blazes Trail Of Small Car Exports From China
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.