Car Sales Explode in China

The Chinese market is exploding like fireworks, according to Reuters.

The Chinese market is exploding like fireworks, according to Reuters. Citing statistics from the China Association of Automobile Manufacturers, Reuters reports that China’s passenger car sales were up 75.8% in October, compared with October 2008, to 946,400 units sold, in response, in part, to government incentives, such as sales tax cuts for small cars.

Rolling in trucks and buses, the gain was 72.48% compared with the previous year, as 1.23 million units were moved.

During the first 10 months of 2009 8.19 million passenger cars have been sold in China. According to numbers from Autodata Corp, total light vehicle sales through October in the U.S. are 8,652,689 units. The Chinese really are on a tear given the comparative closeness of the numbers.

So far this year, GM has sold 1,459,460 units in China and 1,724.554 light cars and trucks in the U.S., according to GM figures.

B

Which just goes to explain why when company officials in Detroit rationalize the importance of Buick to the corporation because of its popularity in China—Shanghai GM produces the Buick New Regal, LaCROSSE [sic], and Excelle, and was the number-one domestic producer in the country—there are a lot of sales behind the rationalization.