Auto sales gains in China slow down

Published: Jan. 9, 2012 at 12:49 PM

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BEIJING, Jan. 9 (UPI) -- U.S. automakers Ford Motor Co. and General Motors reported strong sales growth in China for 2011, but market growth has slowed, a trade group said.

GM, along with its Chinese partners, sold a company record 2.55 million vehicles in China last year, a growth rate of 8.3 percent, the Los Angeles Times reported Monday.

Ford's sale rose 7 percent in 2011 with sales of more than a half million, the company said.

The China Association of Automobile Manufacturers, however, said vehicle sales in the country rose 5 percent in 2011, a sharp drop from the 32 percent growth rate of 2010.

"GM stayed ahead of the competition despite a slowdown in the growth of industry demand thanks to our broad portfolio of appealing vehicles," said GM's Kevin Wale, president and managing director of the GM China Group.

David Schoch, chief executive officer of Ford Motor China said, "Ford expects sustainable growth moving forward in China."

"To keep up with market demand, Ford together with its partners are currently adding four new plants in China," he said in a statement.

Source: http://www.upi.com/Business_News/2012/01/09/Auto-sales-gains-in-China-slow-down/UPI-70441326131378/

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