Arab Today, arab today gm registers record china auto sales for may
Last Updated : GMT 05:26:04
Arab Today, arab today
Arab Today, arab today

GM registers record China auto sales for May

Arab Today, arab today

Arab Today, arab today GM registers record China auto sales for May

Shanghai - AFP

US auto giant General Motors said Tuesday that its China sales for May hit a record 231,183 vehicles, despite a looming slowdown in the world\'s second largest economy. GM\'s sales in the country surged 21.3 percent in May from the same month last year and rose 1.7 percent from April, it said in a statement. For the first five months of this year, GM sold around 1.2 million vehicles in China -- also a record -- up 11.5 percent year on year. China has the world\'s largest car market but sales began to slow last year after the government rolled back purchasing incentives and some cities imposed limits on car numbers to ease traffic congestion and cut pollution. China\'s nationwide vehicle sales rose just 2.5 percent to 18.51 million units in 2011, compared with an annual increase of more than 32 percent in 2010. China\'s economy has also started to slow with growth of 8.1 percent in the first quarter of 2012, its slowest pace in nearly three years, affecting industries like property and construction. State media has said policymakers are considering reviving favourable policies for the auto sector by offering subsidies to buyers of smaller vehicles in rural areas to help boost consumption and spur the economy. Foreign car makers in China have benefited from better brand recognition and perceptions of better quality among domestic consumers. GM sold more than 2.5 million vehicles in China last year.

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