Auto production & sales
General Motors Co.'s $5 billion initiative to create cars for China and other emerging markets comes just as automakers face a collapse in the booming Chinese demand they were counting on to power their growth.June sales in the biggest car market by number of vehicles sold shrank by 3.4 percent from a year earlier as an economic slowdown deepened and smog-choked cities tried to curb growth in car ownership. Sales growth has cooled from 2009's explosive peak of 45 percent, but the latest figures surprised analysts, who were forecasting a healthy 7 to 8 percent for this year.
General Motors Co.'s $5 billion initiative to create cars for China and other emerging markets comes just as automakers face a collapse in the booming Chinese demand they were counting on to power their growth.June sales in the biggest car market by number of vehicles sold shrank by 3.4 percent from a year earlier as an economic slowdown deepened and smog-choked cities tried to curb growth in car ownership. Sales growth has cooled from 2009's explosive peak of 45 percent, but the latest figures surprised analysts, who were forecasting a healthy 7 to 8 percent for this year.
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