China Growth For Major Car Companies Slows

It may turn out that China is not the Holy Grail for multinational car companies that they believed it would be. The world’s largest car market was supposed to offer the opportunity for corporations like Ford F and GM to post 40% or 50% sales increases per month. The number of light vehicles sold in the People’s Republic was rising at similar rates after all. Ford and GM just had to ride the tide. August showed a sharp slowing of sales for foreign car companies operating in China. GM’s sales rose only 19% to 181,625 when compared to August a year ago. According to The Wall Street Journal, Ford’s sales rose 24% to 44,047 and sales for Toyota Motor TM were up 22% to 503,100. To read the rest, head over to 247WallSt.com