Southridge Capital reviewed in an earlier blog how the Auto Industry was fairing in the USA. As a follow up to that blog, Southridge Capital is pleased to learn both GM and Ford are big sellers in China, which is now the largest automobile market in the world.

GM announced for the first time in over 100 years that sales in a foreign market (China) outpaced car sales in the US. According to GM, its joint venture with Chinese’s -venture partner SAIC Motor Corporation Ltd is starting to really benefit the company.

Ford also saw sales increase over 50% in China for the first 6 months of 2010. Ford stated it had its best ever 6-month period in sales in China. Ford’s numbers are impressive because the company was late in committing to going to China.

China consumers took the place of the US consumers as the biggest car buyer in 2009 and held on to the biggest auto market 2010.

Southridge Capital is bullish on these two car makers working in the 2 biggest markets and increasing sales at a record pace.

Tags: Auto Industry, China, Ford, GM

This entry was posted on July 6, 2010 at 10:50 AM. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Posted in Auto Industry Foreign News by admin No Comments Yet