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Ford, GM Catch China Growth

SHANGHAI ( TheStreet) -- A new report says passenger car sales in China rose 18% in August, which benefitted both General Motors and Ford (F - Get Report).

The report by the China Passenger Car Association, a research group, said August passenger car sales totaled 1.02 million and vehicle sales totaled 1.21 million. In the U.S., August vehicle sales totaled 997,465, according to AutoData Corp. Overall, U.S. sales dipped by 21%, reflecting weak comparisons to a month when Cash for Clunkers was in full swing.

China is a different story, as sales continue to grow rapidly. The country's auto sales will likely grow at a double-digit rate to hit a record 10 million units this year, up from 8.7 million in 2009, Dong Yang, vice chairman of the China Association of Automobile Manufacturers said Tuesday, according to a report in The Shanghai Daily.

For the month, sales by GM China and its joint ventures rose 19.2% to 181,625 units. Year-to-date, GM's sales in China total about 1.6 million.

Meanwhile, August sales by Ford and its joint ventures in China totaled 44,047 units, up 24% from a year earlier. Year-to-date, sales by Ford and its joint venture partners are up 42% to 368,103.

-- Written by Ted Reed in Charlotte, N.C. .

>To contact the writer of this article, click here: Ted Reed

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