General Motors and its joint ventures in China announced that their domestic sales increased 66.9% in 2009 to about 1.83 million units. The company said that the strong year-end results were possible in part because of record December sales by GM's Shanghai GM and SAIC-GM-Wuling joint ventures and the addition of sales from its new FAW-GM joint venture.
Domestic sales by Shanghai GM rose 63.3% to 727,620 units in 2009. The passenger car joint venture was once again led by its original brand, Buick, which experienced sales growth of 59.6 percent year on year to 447,011units.
"Despite the sales records in 2009, it looks as if 2010 will be even stronger. The industry outlook is strong and we expect more growth, albeit on a somewhat slower pace. It is our intent to keep up with that growth and make sure we defend our leadership position. GM has all the tools in place to have another great year in China," said Kevin Wale, President and Managing Director of the GM China Group.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.