GM's March sales in China zoom past U.S.
General Motors' March sales in China hit a record high. GM said it sold 230,048 vehicles in China, a 68% boost. In the U.S., the automaker sold 189,000 cars, a rise of 21%. GM is the biggest foreign carmaker in China. It is the third consecutive month GM's sales in China exceeded those in the U.S. China is now the world's largest market for cars.
But, this Wall Street Journal article marks one important difference:
Analysts note that the U.S. still leads China by one important measure--the average cost of vehicles sold in China is significantly lower than in the U.S.
So what kind of cars do the Chinese prefer?
"This is a clear indicator that many consumers across the country--especially first-time car buyers--are placing smaller, more fuel-efficient products at the top of their shopping lists," said Kevin Wale, president and managing director of the GM China Group, in a statement.