CHICAGO - US AUTO giant General Motors may be fighting bankruptcy on plunging sales at home but its cars are selling at record levels Asia.
Bailed out by the US government recently, GM announced on Thursday that it set a new company record for vehicle sales in the Asia Pacific region in 2008.
Its sales in the region rose 2.7 per cent from the previous year to 1,475,093 units, a company statement said.
A further 766,400 vehicles and 599,080 complete knockdown (CKD), or unassembled vehicle sets were exported from the region to other parts of the world.
'GM once again outperformed the Asia Pacific market as a whole despite the global economic downturn and credit shortage, which affected most country markets and major automakers in the second half of 2008,' said Mr Nick Reilly, GM group vice-president.
'We benefited from rising demand for our products in the region's key emerging markets,' said Mr Reilly, who is also GM Asia Pacific president.
In China, domestic sales of GM and its joint ventures rose 6.1 per cent to a record 1,094,561 units, the company said.
GM was led by increasing demand for products from the Chevrolet and Wuling brands, which registered double digit sales growth.
Sales in India increased 9.4 per cent to 65,702 units in 2008, a new record for GM, once again led by the Chevrolet Spark mini-car, which accounted for nearly half of sales.
It also was helped by the start of regular production at GM's second vehicle manufacturing facility in India, the 140,000-unit Talegaon plant, in September.
GM also saw sales in Japan rising 32.0 per cent to 10,865 vehicles in 2008, benefiting from a strategy that focused on offering selected products from the Cadillac, Saab and HUMMER brands.
GM registered modest sales growth in Indonesia and the Philippines while in Vietnam, sales jumped 45.6 per cent to a new record in that country.
'GM remains optimistic about the future in Asia Pacific,' said Mr Reilly. 'We continue to invest in the region's emerging and mature markets to ensure our continued growth in one of the world's most vibrant regions.'
The US Treasury recently gave a four-billion-dollar emergency loan for GM, part of a US$13.4 billion (S$19.8 billion) rescue package for the troubled automaker and Chrysler to stave off collapse amid tight credit and dismal sales. -- AFP