07-03-2010, 09:40 AM
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Join Date: Mar 2007
Posts: 7,771
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China has become the top sales market for General Motors
http://money.cnn.com/2010/07/02/news...dex.htm?hpt=T2
Quote:
Through the first six months of the year GM and its Chinese joint venture partners have sold 1.21 million vehicles in China, the company announced Friday. Its U.S. sales, announced Thursday, came in at 1.08 million.
GM's Chinese auto sales are growing at a blistering pace, up 48.5% over the first half of the year. GM's U.S. sales are also showing improvement -- enough to keep its U.S. plants operating during what would normally be a summer shutdown.
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Years of ongoing losses in its home market, and a sharp plunge in sales here starting in 2008, caused the company to file for bankruptcy a year ago. During its reorganization it shed plants, workers, dealerships and much of its debt owed to bondholders. It emerged with the help of a $50 billion bailout from U.S. taxpayers.
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