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Ford, GM Post Record Sales in China in 2011 (F, GM)

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carsU.S. automakers Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM) posted record sales in China in 2011.

GM, which is a market leader in China, reported that its sales in the world’s fastest growing major economy jumped 8.3% to 2,547,171 vehicles in 2011. Meanwhile, Ford reported that its sales climbed 7% to 519,390 vehicle units in China in 2011. Ford and GM’s sales beat the estimated overall Chinese growth rate of 3%-5%. The U.S. automakers’ gains came at the expense of their Japanese rivals.


Sales of Japanese automakers in China slumped in 2011, primarily due to supply issues.

Kevin Wale, President and Managing Director of GM China Group, said in a statement that GM stayed ahead of the competition despite a slowdown in the growth of industry demand thanks to the company’s broad portfolio of appealing vehicles. Wale further said that GM and its joint ventures launches 12 new models in 2011 while expanding manufacturing and product development capability to meet increasing demand. He added that 2012 will be equally promising for GM and China.

GM reported a 17.4% increase in Buick sales in China. Chevrolet sales, meanwhile, climbed 9.4% to 595,068 vehicles in 2011. Shanghai GM led China’s passenger car sales last year, with sales rising 16.2% to 1,200,355 vehicles.

Ford also posted solid sales results in China. David Schoch, CEO of Ford Motor China, said that the company’s strong sales performance in 2011 shows that it is on track to deliver on its promise to bring 15 new vehicles to China by 2015. Schoch further said that the company and its partners are adding four new plants in China, which include a vehicle assembly plant in Chongqing that will come online 2012.

Ford shares are 0.51% higher at $11.77 in pre-market trading in New York today. GM shares, meanwhile, are up 0.39% to $23.01 in pre-market trading.

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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