China Market
Recent auto sales in China are posting gains of 34% over prior year sales. The numbers have been helped by large incentives from the government there that have boosted sales.
Toyota proudly stated that their September sales were up 45% and year to date sales are up 13% in China. Volkswagen also claims large increases in the market, up 37% from January to September. Ford has posted sales up 32% for the first nine months of the year and recently broke ground for a third production facility in the country.
GM was a bit of a surprise in the market with sales increases of 55% over previous year. The numbers are great and will certainly help prop up their disastrous results at home. the question for the manufacturers is, did you make any money on these sales? In the case of GM. seeing these numbers from a company that has not made profit on cars in the US in 19 years can still make us a little suspicious. Taxpayers are all likely to be a little critical of great sales numbers until we know that our tax dollars are actually subsidizing a company bringing back a profit instead of selling at a loss simply to keep the assembly lines running.
Toyota proudly stated that their September sales were up 45% and year to date sales are up 13% in China. Volkswagen also claims large increases in the market, up 37% from January to September. Ford has posted sales up 32% for the first nine months of the year and recently broke ground for a third production facility in the country.
GM was a bit of a surprise in the market with sales increases of 55% over previous year. The numbers are great and will certainly help prop up their disastrous results at home. the question for the manufacturers is, did you make any money on these sales? In the case of GM. seeing these numbers from a company that has not made profit on cars in the US in 19 years can still make us a little suspicious. Taxpayers are all likely to be a little critical of great sales numbers until we know that our tax dollars are actually subsidizing a company bringing back a profit instead of selling at a loss simply to keep the assembly lines running.
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