This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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.

Ford

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
F $15.77 0.06%
GM $35.59 -0.92%
AAPL $130.28 0.47%
FB $81.53 -1.07%
GOOG $565.06 3.30%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs