General Motors China Sales Jumped 22.3% in January

General Motors announced on Wednesday that its sales in China increased 22.3 percent in January on a yearly basis, while also setting a new all-time monthly record. The US car giant has sold 268,071 vehicles in the country last month, beating the previous monthly record of 230,038 set in March 2010.

The January results come after a record 2010 year, thanks to an increased 28.8 percent year-on-year figure of 2.35 million vehicles, outperforming sales in the US for the first time.

The booming Asian market has become increasingly important to General Motors as demand weakened in the States. As a result, China is now the hub of operations for the international market. Total sales in the country rose more than 32 percent last year to 18.06 million units, according to China Association of Automobile Manufacturers (CAAM). Sales of passenger cars also rose by a third, to 13.7 million vehicles.

The growth could be partially attributed to consumers jumping at the opportunity to buy cars before the government stimulus policies, which include tax cuts introduced to boost sales, run out.

This year, CAAM believes the market will grow at a much more stable rate of 10 to 15 percent a year, after purchase taxes for small cars rose to 10 percent and Beijing drastically reduced the number of new registrations allowed in the capital.

General Motors produces cars under a number of joint ventures, including Shanghai General Motors, a partnership with China's largest auto maker SAIC Motor. The company also sold 3,334 light commercial vehicles through its joint venture with state-owned FAW.
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About the author: Mihnea Radu
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Mihnea's favorite cars have already been built, the so-called modern classics from the '80s and '90s. He also loves local car culture from all over the world, so don't be surprised to see him getting excited about weird Japanese imports, low-rider VWs out of Germany, replicas from Russia or LS swaps down in Florida.
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