GM, VW Both Earn Bragging Rights For China
Both General Motors and the Volkswagen group can claim bragging rights after Chinese sales results for June have been announced. VW outsold GM for the month, 262, 700 units to 236,207, but GM was still ahead for the first six months of 2013 with 1.57 million units sold compared to 1.54 million for VW.
China is currently both companies’ largest market, both firms outperformed the overall 14% growth in the Chinese market so far this year, and both companies have bet big on continued growth, with GM committing $11 billion in investments by 2016, including a new Cadillac assembly plant in Shanghai, and VW planning to spend even more, $12.5 billion by 2015.
According to Bloomberg(via Automotive News) VW’s June sales were up 21% year to year based on the strength of the luxury Audi brand, which went up 34 percent from 2012, boosted by the startup of Chinese production of the Q3 crossover. Volkswagen branded vehicle sales were up 18%, as did Porsche sales, and Skoda reported a year to year increase of 5%. GM attributed it’s performance in China this year to better demand for Buicks and Cadillacs. GM sales for June and for the first six months of the year are both records for the company in China.
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Pyrrhic victory all. At what point will China decide indigenous manufacturers have enough tech and expertise to repatriate its home market? Maybe they can just buy controlling interest in GM, since China is now its largest market, profitless prosperity or not.
What the heck is TTAC Staff? Who is posting under that?
This looks like Bertel. It even smells like Bertel. It's even posted around Bertel-tie. Did he have a namechange? Really? TTAC staff is appropriate for someone who had an article on dildo's.